Yep, just use the "Up" button in the Setup tab to go out of your project folder and navigate to the files on disk. You then just drag them into the timeline. To edit them, go to the Timeline menu and there are options for cutting, splicing, rolling, slipping, etc.
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
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