fcp or fcpx/work with full hd in my fcp

this is my system

imac 27'' - 2011
3.4 ghz intel core i7
8gb 1333 ddr3
AMD Radeon HD 6970M 2048 MB
OS X 10.8.2
i work on fcp 7

i have some question .

1-
- I want to edit movie in full hd with (5d or 7d canon).could i edit full hd movie with my system or not?now i edit dv.
- I have to update my memory or not?
- I need any hardware or not? (like raid card-capture card)

2- i work on fcp7.it have bug.i hear fcpx have too.could i switch to fpcx now or i have to waiting for apple fix it.my friend say they work on Avid.they say it better than final cut.i want to know it's true ?

3- when i work with hd or full hd how can i decrease my timeline preview for better editing movie in fcp & after that when i want to get export ,i have best quality export

tnaks

If you stick with FCP 7, you don't need more RAM. For X it is advisable to have 16gb.
What bug is that? No software is bug free (besides the "hello world" I wrote other day).
Avid? What do you expect to hear on an FCP fan site? Avid is a tool, as is FCP. It is up to you which one you prefer.
Your Canon footage should do fine on your machine. An external RAID via Thinderbolt will speed up things.

1- Yes, you can work with Canon 7D an 5D just fine. Before X I was editing that stuff in v.7 just fine. Install the Canon EOS plugin for FCP 7's Log & Transfer, and set it to ingest the footage as ProRes LT. Your system sounds fine as is. You may need to add an external drive for your Scratch Disk. FW800 7200rpm minimum.

2- Final Cut Pro X is "different". No NLE is better or worse than anything else. It's all what works best for "you". If there were one "best" car, we'd all be driving it. No clue what "bugs" you're talking about, but all software has bugs, especially NLEs and 3D modeling apps.

3- I've not looked at FCP 7 in a very, very long time since working with X now, but there are preference settings that will lower the quality of the Canvas for better playback, but you still get full rez upon export. Someone here will know those settings better than I do.


Big Question:
Should you switch to FCP X "now" or not? Be prepared to learn a whole new NLE from scratch. Don't delete Final Cut Studio just yet, though. You can have both on the same system just fine. But when you are ready to seriously invest in some training (like macProVideo.com or Ripple Training), I'd say move to FCP X, Motion 5, Compressor 4. They will be around a lot longer than legacy versions will.

tanks for your answer BenB & cgbier

Don't delete Final Cut Studio just yet

I did, but I have FCP 8 (aka Premiere CS6) in the backhand.