Bugs to watch out for
 

Just ran into my first major Final Cut Pro X Bug:

Titles appear correctly in the editor
However, when exported directly to Compressor, one of the sub-titles changed to "Subtitle Text Here" (just one of three bottom-thirds)
Looking back at the editor it reads "June 25-26, 2011" ... as it should.

The workaround:
Export to file, *then* run through Compressor, the subtitles appear correctly.

Re: Bugs to watch out for
 

The titles are buggy. I have a couple of instances where the entered text in the title vanished and was replaced by the template. Also one title kept the text but changed templates however I'm not sure if that was my mistake. And with all the templates provided, why isn't a simple fade in/fade out template there?

And you can't apply a simple transition to a title or graphic if it's layered over the main track. You are forced to keyframe it or create a template in Motion. That needs to be addressed.

Re: Bugs to watch out for
 

I just started playing with using Motion to build titles and I have to say it seems pretty powerful (sans bugs). I just need to build some of my basics and I should be good to go.