Owning Logic 7.1 unfortunately does not give you the Full Final Cut Studio Package for $199. But you are right none of Apples Pro Applications are supported at this moment in time for their latest Pro Product!
If you already own DVD Studio Pro 4, Motion 2, Soundtrack Pro, Final Cut Pro 4/4.5 or Production Suite then you may if you wish get the full Universal Version of Final Cut Studio for $199.
But again if you already own Final Cut Studio 1.0, Aperture or Logic Pro 7.1 you can purchase a Universal version (when it is released) for $49. Which is a bloody annoyance if you have already paid and own this software no matter which way you look at it.
For full details go to
http://www.apple.com/rosetta/