There is a bug that pops up from time to time preventing Final Cut from recognizing Phantom cine files even when the GlueTools Phantom Toolkit is properly installed. There is a fix detailed on the GlueTools forum, but it requires familiarity with the Unix command line. To simplify the application of the fix, I’ve created an Applescript that automates this command – just download the program, and drag the cine files you need to fix onto the icon.
Note that this program only works in Leopard. Also, it currently will not look into a folder that you drop onto it — you’ll need to go into the folder and select the cine files (you can use command-A) and drag and drop them.
Get the file here: fix_cines.app