We all want this and we completely agree with Jason Rose when it comes to editing and keyboards. However demoing FCP7 with a touchscreen seems slightly odd with the new version less than 48 hours away.
Not as slick as we expected, but he is on camera. The current FCP GUI isn't designed for touchscreen, maybe the new version will have gestures just like Motion; not that we've ever seen anybody use them apart from Apple guys. If you go to his Vimeo page he also shows us T.I.M.E. (Tactile Interface Movie Editing) with Media Composer.
Tell me it's not a screen recording.