Regarding image quality:
FMP12 has new thumbnail finctionality which changes the way in which images are rendered. There was a TON of stuff on this when 12 was new, and one of the options if you have issues with the thumbnails is to turn OFF the thumbnail settings at:
- File > Manage > Containers: Thumbnails tab
This should cause FMP12 to render images more closely to what you had in FMP11, though there may still be some differences -- the engine driving the rendering is different.