Multiple FCP Installs

Am I allowed to install the same copy of FC Studio on a new Mac Book Pro and a new Quad G5 at the same time?

Yes, but you aren't allowed to use both installs at the same time.

Also, you must own both computers.

Ah!! I believe that is mistaken. If you read the stuff we always skip on the ARE YOU SURE YOU AGREE! install - it mentions a one license per computer.

If both computers are hooked up to the same network, and one copy was open first, it would not allow you to use the other copy.

The license changed with FCP 5.1

I don't have access to the exact verbage at the moment, but it did change from "installed on one computer at a time" to one desktop and one laptop not to be run concurrently owned by you with version 5.1.

FCS 5.1
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2. Permitted License Uses and Restrictions. This License allows you to install and use one copy of the Apple Software on one Apple-labeled desktop computer and one Apple-labeled laptop computer so long as both computers are owned and used by you. This includes the right to transfer your copy of the Apple Software licensed hereunder from an Apple G4 hardware platform to an Apple G5 platform.

FCP 5.0
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2. Permitted License Uses and Restrictions. This License allows you to install and use one copy of the Apple Software on a single computer at a time. This includes the right to transfer your copy of the Apple Software licensed hereunder from an Apple G4 hardware platform to an Apple G5 platform.