That's a very complicated question. The very oversimplified answer is that Avid's strengths in customization and high-end workflows are of questionable value to us, while its weakness in ease of use have made many simple things more complicated. In short, Media Composer has decreased our productivity and I'm not confident this can be made up over time.
One good example of this is AMA linking, as already mentioned in this thread. Importing everything made perfect sense in a tape based world but not in a file based one. The vast majority of our raw footage comes to us in editable form. Transcoding is rarely useful to us. Media Composer is still way behind on file linking. Many functions of MC still do not work with AMA at all. AAF exports being one big one. You want to get your AMA linked sequence out of Avid, you must transcode.
Our project organization relies on drive level organization in files and folders. You cannot import this organization nor organize bins hierarchically to reflect such organization. I can't tell you how much this frustrates me. The ability to put bins in folders does not cut it. And while I'm at it, why do I have to have a bin open to drag clips into it?
Audio mixing in the timeline is a good example of a pervasive problem, feature bloat. Powerful, yes, but so bloody complicated. What the hell happened here? I'm still struggling trying to control the audio in my timeline after 6 months. Am I in "Clip" mode or "Auto" mode? Is this volume or gain? Why can't I add volume to this clip? Do I really need 100 keyframes for a 3 second fade?Why does MC sometimes ignores the volume settings making me look bad in front of the producers? Why can't I get any pan controls to work for this track? I mix in the timeline constantly. I need this to be better.
Media Composer has finally learned to link directly to still images, but manipulating them is complicated and buggy compared to other NLEs. This sounds like a small thing, but still images are very important to our documentary workflows. I am spending about four times as much time on every image now. Slug the clip. Drop the effect. Load the file. Wait. What was the file called? Dammit. Why does the file look so blurry? Oh, because it's not 72dpi. Well, of course it's not 72dpi. It is 2014 after all.
I am NOT saying MC is a bad NLE or that I hate it. It is an amazing and powerful product. But when that power is not needed, it's often in the way of just getting the job done quickly and efficiently.
Cheers,
tod