You can view the Playback Meter to get a feel of the memory cache usage during playback or capture. This is for FCP pre-X version, not sure if X supports this, can't find the Tools menu in X.
In FCP, hold won Cmd + Option + Shift and click the Tools menu, this should show a new menu item call Internal Tools, point to it and select Playback Meter. A graph window will open to show the Video / Audio cache status.
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