Hardware Solution

I've got a 17" Macbook Pro with a 2.2 GHz i7 chip and as of now 16GB Ram and I replaced my optical superdrive with a 500GB SSD, i'm booting off the SSD and i've got all my software on there, which after installing native instruments on (280gb musical package), i'm only left with around 180GB of free space on my primary drive. my secondary drive is a 750GB HDD, which after putting all my music and videos on now has around 600gbs of free space.

Here is the conflict, where should i save my Final Cut Events and Final Cut Projects?

I tried it on both drives and don't seem to see much of a difference, i think my SSD heats up quicker though if the files are on my SSD, once it heats up i get massive frame drops, which is usually after working on a project for like an hour or so.

You answered your won question: put your stuff on the secondary drive.

so events and projects folder both as well as the actual video files on the secondary drive and only the software on the primary?

yes