favorite transitions

In FCP7 I used to have a set of favorites - transitions, filters, etc. that I then had assigned to custom keys in my keyboard - I don't see where you can create favorites & assign key commands to them in FCPX - anyone figure out a way to do this?

You can designate one transition as a favorite. Control-click it in the Transition Browser to Make Default and by default it will be assigned to Control-T.

No, we don't have these. You can assign the default Transition (right-click a transition in the transition browser, select "Make Default") for Command-T. You can group them into Themes so you have access to multiple elements (effects, titles, transitions, generators) all in one place. But no, we don't yet have the favorite packs like we did in v.7.
www.apple.com/feedback/finalcutpro.html

BenB wrote: You can group them into Themes so you have access to multiple elements (effects, titles, transitions, generators) all in one place.l

I hadn't thought about using a theme in that manner, thanks for the idea.

That's exactly what themes are made for.