I could not get my graphics form Illustrator CS2 into FCP without loosing the fine detail that I worked to achieve. The only option I found close to getting a vector graphic into FCP was to import a wmf. file. The wmf file always distorted upon import. ( I lost lines, points, curves etc.)When placing vector graphics with fine lines the graphics turned into small blocks or the fine lines would be broken into small pieces resembling that of a dashed line. 
SOLUTION SO FAR
I increased the size of my graphic in Illustrator to the size of the 8.5 x 11 page. (This doesnāt take a lot of memory if the file is vector and not raster). I exported the larger graphic as a wmf file and imported it into FCP. The results were 100% better than the first results, however there were still distortions only very minor but in my opinion critical to the font.
I cut and pasted the same larger graphic from Illustrator CS2 and eliminated some of the distortions. I did have to go in and tweek a few curves and sharpen a few points but nothing like I had experienced earlier. I increased the size even further in Illustrator CS2 and when I cut and pasted into FCP I nailed it. (As close to perfect as it will get!) 
I Believe that if I imported the even larger graphic as a wmf file I would achieve the same conclosuion if I played around with the trace, and threshold settings on import, but that was too many added steps for me.
NOTES:
The file used was a character created in Illustrator CS2 with one color black.
It had fine lines resembling that of a script font and it was not a multi-color or complex graphic.
Any overlapping parts were merged upon import. So it did not maintain imdvidual properties
observations:
FCP did not seem to treat the vector files whether EPS or WMF as a vector graphic, but it recreated, traced or reinterpreted the lines in its own language, thus producing a vector file. I drew this conclusiong form the import settings that delt with threshold, trace and bitmap etc. Even when you copy and paste a vector graphic into FCP it automatically runs the import setting which actually recreate the file in FCP and what ever youāre default setting are for import it runs on the pasted object. The same results are achieved if you drag a file into the design area in FCP wehter it is raster or vector it is treated as an image to be recreated. When using a smaller graphic it could not generate the finer lines and details but with a larger graphic it had more information to process. Whith most graphic programs no matter the size it recognizes the points just as FCP treats fonts when you open them. If you have been using Illustrator since version 9, Freehand, or Streamline you will be familiar with the trace command, which traces or recreates a graphic as a vector file. With this type of command as with FCP the end result depends on the quality and resolution of the provided file, but could stillr equire tweeking.
I guess the difference is that other vector programs actually recognizing vector art as vector but from my observation FCP is treating gif, jpeg, wmf, eps, ai, or the cutting and pasting of a vector graphic as a raster image that needs to be recreated. This would explain why the lines are distorted and points are lost. Other vector programs keep the points that are provided if it is vector. So in conclusion FCP really does not allow import of vector graphics other than fonts but it has a good tracing option.
I have only been using this program for 3 days and these are my opinions based on usage so far not facts. I think this is a great prgram