Basically adding reverb, flange, changing pitch or speed etc ... I am especially looking for the D-Verb function
( making a particular note ring out longer ) ... Do you have to take it into Soundtrack Pro? I don't know Soundtrack Pro and would like to manipulate it in FCP7.

FCP's audio editing functions are quite limited. For more advanced functionality, I recommend sending to Soundtrack Pro.

My software:
Pro Maintenance Tools - Tools to keep Final Cut Studio, Final Cut Pro X, Avid Media Composer and Adobe Premiere Pro running smoothly and fix problems when they arise
Pro Media Tools - Edit QuickTime chapters and metadata, detect gamma shifts, edit markers, watch renders and more
More tools...