Yes, the QT file plays fine. I found a way around this. Before, I was exporting from FCP into Compressor. It finally worked after I launched Compressor separately and encoded from there. Seems like it wouldn't make a difference, but it did. Also, I noticed that even when I had my 3 minute project rendered in FCP, when I went to export with Compressor, it rerendered the whole thing while encoding. My 3 minute project was taking 6 hours to export! Saving as a Quicktime Movie and the importing into Compressor only took about 10 minutes. Point being...don't export into compressor if your project is heavy with effects! Instead, export as a lossless QT movie and import that QT movie into Compressor outside of FCP to save huge amounts of render time.