From Mac Guides

Final Cut Express is a scaled-down version of Apple's top-of-the-line video editing suite Final Cut Studio. It is designed for the amateur who does not need all of the features of a more expensive pro suite.

Version 1

Version 2

New Features

HD Version 3

Final Cut Express HD was announced at Macworld San Francisco 2005 and started shipping a few weeks later.

Version 3.5: Universal Binary

Final Cut Express HD 3.5 (Universal) was announced on Thursday, 18th May 2006, shipping immediately.

It includes new features, and is bundled with LiveType 2.1 and Soundtrack 2.

Pricing stays as before.