Apple demonstrated a new version of its industry-standard video-editing software today. Final Cut Pro X will arrive in June and feature major improvements. The app will finally gain a native Mac interface. It will also be rewritten to be 64-bit and take advantage of OS X technologies. Lastly, it includes significant new features, including some borrowed from iMovie.
When the software arrives, it will be available for download from the Mac App Store, for $299. To my knowledge, no new Final Cut Express was announced, but with the drastically reduced price of the Pro version (which used to cost $999; Express was $199), perhaps the distinction is gone.