I actually like FCPX. It serves my purposes well, other than the fact that my graphics card doesn't let me get realtime playback, even when using proxy footage... But my computer is a bit outdated. It's an absolute basic MacBook Pro configuration from 2009. Not really the program's fault.
I don't care about backwards compatibility at all. The program was completely rewritten from the ground up, and there are functions in 7 that just don't match up with X, so it's totally understandable to me. It's something for a 3rd party developer to take a crack at, and they have. Good enough for me.
Premiere is great because it talks nicely with other Adobe apps like AE and Audition. FCPX has taken a step backwards in that regard, but it's taken a huge leap forward in terms of the interface and ease of use IMO. I work quicker in X than I do in 7. Especially with stuff like b-roll, where you can assign key words to ranges of clips and stuff like that. And having thumbnails like that in the browser is really convenient. I'm no longer just clicking on a random file name to see if it's the one I'm looking for, or if there's something I can use. Now it's all there in front of me.
I personally don't need Apple to do much else with it, other than a few bug fixes, and switchable windows would be really nice. Of course professionals have many more needs than I do, but personally, I like it. I just hope 3rd party plugin developers don't abandon it!