The new feature in Final Cut 6 that will automatically change your timeline settings to match the first piece of footage you edit into it is a great thing. It saves a lot of time and fiddling.
I'd like to see a feature in Final Cut 7 that will (somehow?) give you the option of automatically changing your A/V device settings to match the format of the timeline you're working on. Having to manually go in and change my easy setup when toggling back and forth between an HD and an SD project is really getting on my nerves today.