Export H.264 without trancoding?

Prior to the FCPX 10.0.6 release my exports flew out of FCPX provided I used the option Share -> Media.

Now there is no such option.

There *is* an option to export a file using the same settings as source, but this seems to mean the source as in the Project settings, not the source footage.

So as far as I can see there is now no way to import H.264, make a few quick cuts and then export without going via ProRes then re-compressing to H.264

Is this the case?

FCP has always behaved like this. If you want an H.264 master switch settings in the export window to H.264.

Indeed - it was my imagination that it was faster in 10.0.5 (I did a side by side test)

See this thread I made a while ago:

www.fcp.co/forum/4-final-cut-pro-x-fcpx/...-a-uncompressed-only

FCPX unfortunately does not have an option to export in really the same settings as your source footage (unless it's Prores).

Having Smart Rendering where FCP copies pieces of original media is still high on my wish list.
I did new tests on FCP 10.0.6 and it's still not there. FCP 7 can still be up to 5 times quicker then FCP X in export, depending on what you do with the material and how you export it.