Getting in on this pretty late but here goes:
Started as a Vegas user (back when it was Sonic foundry vegas video), got into film school, was taught how to use final cut. Initially hated it (didn't have render free previews for different frame rates/file formats like vegas did. Yes, Vegas had this option 5 fucking years ago) but came to love Final Cut pro, and used it for all my own projects.
Decided to teach myself Avid. Improve my chances of getting work. Got work, started using AVID fulltime. Missed the living fuck out of FCP. Really missed editing on the timeline itself and FCP's easy to use effects. keyframes and titling.
Got used to AVID because I was working with it everyday.
Now heres the thing: if you want to do a basic edit, hack n' slash, a few transitions, basic audio editing, titles and colour correction (AVID
c colour correction tools were much better than FCP until COLOUR came along in FCP studio 2) then AVID is where you need to go. Once you are used to its interface, bam! You can edit much much faster than you can with FCP (again depends from person to person but thats the way I feel right now).
Unfortunately for anything outside of basic editing, AVID (using media composer) kinda falls apart for me. Avid handles different file formats and frame rates really poorly (don't get me started) and using its effects palette is a pain if your used to FCP's or After Effects. And especially when it comes to effects, you WILL see plenty of Bullshit bugs pop-up. This is where FCP and even more so FCP studio 2 is just so much better. Easy to use, simple interface, hassle-fucking-free. You sit, you create. No struggling with an interface (avid effects interface not its editing interface) that makes no fucking sense for the things it needs to be applied to.
Anyway.. take that rant/my editing life story for what you will. For value for money FCP studio 2 wins hands down. But if your after a good solid editing tool that most if not close to all (this is changing I know) the pro's use stick with avid.
I'm only using avid because my workplace demands it. Otherwise I'm Fcp all the way. And if you are a PC only person and want a good cost effective NLE just go straight to Sony Vegas 8.