I know Automatic Duck will convert OMF to FCP.
Is there any other software (cheaper) out there that will convert OMF to FCP?

Tricky part - Media Composer 7.2 codec to FCP HD codec.

You have basically three options, EDL, OMF or import into FCP via batch lists Avid will create. EDL is by far the least desirable. EDL's are difficult to work with and many of the effects won't translate.

OMF via automatic Duck is the best and easiest solution. Most of the effects, audio levels and pans etc. will transfer.

Avid will create ALE files, which are batch lists of bins. You can then re-digitize the footage and match back to the timeline.

I would only attempt this via Automatic Duck plugin for FCP.