Quick question.
Just got fcp5, running a dual 1.8 G5 with 2.5 gigs of ram.
Captured footage HDV 50i from my fx1e and fcp5 is requiring me to render everything i put into the timeline. Is this normal or are my settings screwed up?

Please advise.

Something must be wrong with your settings. No render should be required for regular HDV footage (or at least it isn't on my dual G5/2.5ghz). Go to the Final Cut Pro menu and choose Easy Setup. Be sure to check the "show all" box. Pull the menu down to "HDV 1080i50. This won't change existing sequences, but any new sequences, clips and captures will be properly configured.

Also check to be sure you're really sending HDV and not regular DV over firewire (turn off downconvert on the camera menu).