> Is there a way of importing them? I have backups of the Prefs files but don't
> know which file holds the favourites (POA or 4.5 Prefs) nor how to bring
> them into vers 5 without confusing FCS. Anyone know?
Don't mess with preferences. Instead, copy everything in the Favorites bin (Effects tab) into a bin in a project file. Save that project file, and then open it with FCP5.
It's better to keep effects in a bin in your project file anyway rather than the Favorites bin. Favorites bin objects disappear every time you dump preferences, can disappear without warning, and you can't keep clips or Generator objects (for example, non-filter widescreen mattes) in it.