I had to upgrade to Mountain Lion to use Creative Cloud. I did a clean install of everything. Now every time I launch a FCP 7 project that doesn't have the expected media drives connected I get a crash, and have to delete preferences to be able to launch any project again. I have a workaround to avoid this (uncheck "open last project on application launch"), but it's a pain if I accidentally launch a project I didn't intend to.
In addition, I seem to have dropped frames during playback of 1080 sequences over Firewire 800 connections that I did not experience before the upgrade.
I have reinstalled twice. Any similar experiences?