Main diffs FCP vs FC express?

I've been using FCP and FC Studio for a few years for my personal work, and with the economy the way it is, I can't swing the upgrade to FC studio... Express is more doable, and I wonder what the biggest differences I'll see will be?
Anyone here use both who can give me the nutshell of what's different between the two?
mainly, I am not into plug-ins or toys; I like simple edits, and what I think are called L cuts...like to be able to edit a clip's sound independently from its video...
thanks!
r

ok..that clarifies some...
where I'm going with my work..I'm not sure what you mean...how am I distributing it? what's my goal?
What I am doin is that I'm working on a couple of films. they are my personal work. they are not intended for television, necessarily. I may want to burn them to DVD. I may be interested in screening them in real theatres, or distributing them over the web.
my personal style of video editing is about making simple cuts...sometimes I want the sound moved from where it was in the original clip to some other location..some times I want video from one clip over the sound of another..but I am basically about telling my story with edits and not with effects and plug ins.
FCP 5 does everything I could hope for and more..I've yet to learn all of what it can do. it's a great tool...easy to use, robust...things make sense just as in OS X.
my editing needs are beyond what iMovie offers. I believe that Express has the editing tools, but it won't allow me to make my own frame size, for example...or select from more than the 3 codecs you mention.
So, I guess I am more of a FCP user and needer than a person for whom express is plenty. Be nice if I could just pinch a couple more things that FCP does and insert them into FCE, but it's just not that way.
I may be that kind of user who doesn't fit neatly into this hole or that with respect to a couple of things I've mentioned above re: what I do in FCP.
r

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