We are having a bit of an audio day here at FCP.co towers. We spotted this video when researching the compliance plugin and found out how a poor method of measuring audio is employed in Final Cut Pro.
It is rare that we use FCP without some form of external metering, our choice being the 1 to 6 range PPM meter. However if you were to rely on the FCP meters only, you could be in for a nasty shock when your master tape or file goes off to your broadcaster. Interesting eh? Thank you to Eyeheight for pointing this out.
We have also spotted a company offering software PPM meters - we will post more info when we've given 'em a spin.