Final Cut on iMac

Question

I am about to purchase a new computer for my home office, and I have a few questions concerning the system I should purchase and how I should set it up. I currently have a Power Mac G5 with the following hardware:
Model Name: Power Mac G5
Model Identifier: PowerMac7,2
Processor Name: PowerPC 970 (2.2)
Processor Speed: 2 GHz
Number Of CPUs: 2
L2 Cache (per CPU): 512 KB
Memory: 7 GB
Bus Speed: 1 GHz
Boot ROM Version: 5.1.4f0
Serial Number (system): XB40206SNVB
Hardware UUID: 00000000-0000-1000-8000-000A95BAA97C
I mainly use my computer to edit on Final Cut Pro and Motion. I’m running Final Cut 5.1.5 and Motion 2.1.2. I want to upgrade to Final Cut Studio 2/Funal Cut 7 and Motion 4, but as you know, Mac Final Cut software will not update on my Power Mac, forcing me to upgrade my whole system in order to move forward. I’ve spent a lot of money on my system and love Mac, but this is just rotten. Mac should support their long-term fans, not force them out.
I can’t afford a new Mac Pro, but from what I hear, iMac may be an alternative.
Question 1:
Would a Quad-Core i7 iMac out perform my current system?
Question 2:
I believe I should set up my system with all software on the computer drive and use an external Fire Wire 800 drive for my main media storage, rendering and video capture.
Is this true?
Question 3:
If I used a Fire Wire hub to connect to multiple Fire Wire sources, would the one Fire Wire port support video capture from a DV cam in, and digitizing to the Fire Wire 800 drive at the same time through the same Fire Wire hub?
I mostly capture video at work and export to a QuickTime file to work on projects at home. Will the speed of the external Fire Wire 800 drive be fast enough, or would I need to set up Ethernet raid somehow?
Question 4:
How would I set up an external 16 x 9 monitor for playback for my video projects in Final Cut?
Currently I have a digital to analog converter connected to a 4x3 NTSC monitor.
I now need to see DV NTSC 16 x 9 SD playback on a 16 x 9 monitor. Would this be connected through the Mini Display Port, or some other connectivity? I need this reference to check for interlacing issues, color and video quality.
Question 5:
Does Apple give long-term Mac users some kind of break on hardware or software now that we need to spend enormous amounts of money upgrading our hardware to keep our Mac software updated?
Question 6:
Even though I can’t afford a Mac Pro, will I kick myself for getting an iMac now and not wait and save up and purchasing a Mac Pro in the future?

Answer 1

but my digital to analog connects via firewire and I want to use the one firewire port for external video drive
Well, you can still see about connecting a camera/deck to the external drive via firewire and see if you can get smooth playback. You might with DV.
How about a Matrox MXO2 mini? Will that work with an iMac?
Nope. The ONLY option you have with an iMac is the Matrox MXO...the original. That connects via DVI out, but then gets you component, composite, s-video and SDI. No HDMI, but since this is DV, you don't need that. The MXO2 Mini won't work as it needs a PCIe slot, something an iMac lacks. A MacPro has these. OR it also uses Express34, that a MacBook Pro has (well, only the 17" model).
With the iMac, your options are limited. Because this is a consumer machine. Fine for cutting and all that, but professional monitoring? That makes things difficult.
Shane