Preview at WWDC likely in June, followed by September launch.
Apple Issuing Refunds for Final Cut Pro X Upon Request
Here is an example of one such email a disappointed pro received from Apple:A thread in Apple's discussion forums reveals a number of other users who have successfully received refunds for their Final Cut Pro X purchases, although some customers have had to make several requests as part of their conversations with Apple support staff before being granted refunds.
"Moving forward, I understand that you are not satisfied with the app "Final Cut Pro". I can certainly appreciate you would like a refund, and I would be more than happy to help you out with this today. In five to seven business days, a credit of £179.99 should be posted to the credit card that appears on the receipt for that purchase.
Please note that this is a one time exception because the iTunes Terms and Conditions state that all sales are final."
Apple does not have a blanket return and refund policy for App Store applications, although the company has reportedly been required by law to offer one in Taiwan. Apple does offer refunds on a case-by-case basis, however, with customers having reported success gaining refunds for accidental purchases and other extenuating circumstances.