My home office was recently burglarized and my two editing laptops were stolen. I was running FCP 7 on Lion on MacBook Pros. The theft forced me to get as a replacement computer a MBP running Mountain Lion. While I was able to re-install FCP 7 on Mountain Lion, its performance is super buggy - all my edits have a flashy look to them like there are some extra frames, and the viewer and canvas show significant banding on playback. On other threads I've seen that others have had this problem too; some attribute it to graphics cards, for others changing the cards doesn't seem to help.
Additionally, FCP seems to freeze up and crash occasionally, which makes me really nervous...So now like many others, I'm thinking of going to Premiere, maybe sooner rather than later at this point, but I wanted to see what success others have had in making the switch to Premiere mid-project? In addition to the learning curve I'll have, I'm in the middle of two large projects in FCP7, and I don't know how much work might be lost in converting to Premiere? Has anyone tried this successfully? When you pull a FCP file into Premiere, how much gets lost? I'd appreciate any thoughts!