Note: Most of these pages and links are cut and pasted from other people's creativity that I read and want to remember for my personal editing growth.  I try to give credit when I can - but sometimes the cut and paste just doesn't get that done - so my apologies to all for missing credits. 

As in Liquid, MC has multiple ways to accomplish the same tasks - left and right mouse clicks access various and different drop down menus, there are "hamburger" "fast" menus, and keyboard shortcuts. There are hotspots inside module windows so where you left and right click does matter.

There is a "MC" way of doing things and a "Liquid" way of doing things.  It is recommended to let go of your "Liquid" ways and learn the "MC" way.  Read the manual, use program help, ask questions on the forum.
 

Patches are executable files with a .msp extension which are installed over your current version. A patch is usually identifed by an increment such as 5.0.3.1 (note the extra digit).

To know which patch is installed - In the control panel, go to "add/remove" programs and activate "show updates". You will then see what patches have been installed for Avid Media Composer. 

Use this everytime you go in a project. It will save you some troubles.

Larry Rubin:

DEEPER CUSTOMIZING OF INTERFACE:
In the project window, click on "settings" to display your user settings (1).
Double click "Interface" with check mark next to it (2).
Choose: "appearance" and customize as desired (3).
Changes will automatically become part of your user profile.

To add to this, by clicking on each Interface Template you can instantly change the colors (4).

Larry Rubin:

• Upgrading versions:

Each full version of Media Composer, like 5.0.3, requires an uninstall of the previous version and a full new install of the new version. Don't forget to deactivate your software license BEFORE uninstalling the old one. Install the new version, reactivate your license, then install the 5.0.3.4 patch. On the PC side, patches do not require an uninstall, they are added on to the full version, which must be installed first. All patch files are cumulative, so installing 5.0.3.4 will give you all the patches in 5.0.3.1 and forward. Download patches and the installation instructions pdf from here.

You can find what updates are installed by doing this.    Go to your CONTROL PANEL   Open ADD/REMOVE SOFTWARE  After all the software you have has loaded, look to the left side margin.  There should be something like "Upgrades installed".  Click on that and you will find information about all your software upgrades.  Not only the MC ones

Deactivate your registration
Uninstall your current MC version
Install the full version 5.0.3
Activate your license
Install the patch 5.0.3.5

it's always a good idea to back up your "Avid Projects" folder and your "Avid Users" folder, just in case.

Also check here for updates of the other tools in the suite.

• Understand the Avid Basic Workflow
   
  • Basic Media Management, Project Windows & Bins
  • Let go of your Liquid workflow - what works for Liquid may not be the way to do it in Avid MC

• Quicktime - You must run the compatible version of Quicktime with MC,  You can find the Windows version of QT 7.6.6 here. 7.6.8 is not yet qualified for MC. Refer to this version matrix.

• MC5 Smart Tool is worth learning well as it seems it is the future.  The modes are there, but integrated and not seperate.  But you still want to....
   
• Learn MC's MODES.  Depending on the editing MODE (Trim, Effect, Source/Record, Segment)  you will have different tools available, and you have to be in the "right mode" to do different aspects of editing.  Things you do in Liquid can be done MC.   The active editing mode is indicated on the lower menu bar of the timeline, as is other modes you may be working in within an editing mode.

• Use MC's ONLINE Library and Avid Media Composer Help (both available from the help menu) as early as you can. Start with the Basic User guide to get the terms down. Inside each  library module you can search for terms or review the table of contents to start getting the feel of the layout of MC. 

• User defined keyboard shortcuts can only be assigned to certain standard keyboard keys and to SHIFT + certain standard keyboard keys.  ALT and CTRL keys for keyboard shortcuts are reserved for pre-defined keyboard shortcuts.

• View some Basic Tutorials

• Source Monitor is called SOURCE monitor, Master monitor is called RECORD monitor

• Split or Razor Cut is called an ADD EDIT

• MC's  equivalent of Containers is COLLASPE -  More

• When you import a file into MC, MC transcodes the file into it's own proprietary format based on the timeline properties.  These files are stored in the AvidMediaFolder/MFX/# folder.

Liquid does the same, I think generally to seperate out the audio) Unlike the files that Liquid creates, (generally M2v or AVI)  which does the same thing and stores the files in it's /RACK folders, these MXF files can not be read by other programs - and the only way to view those files is to import them into a project's bin.  (See media Mgt) 

• SEQUENCES in Liquid are SEQUENCES in MC (basically a named timeline with events (clips, titles, effects) Selected sections of sequences are called SEGMENTS.

• MARKERS are called LOCATORS  More

• USING the smart tool -  Clips have handles at the beginning or end to stretch or shrink the clip

• ** Pan and Scan is not the same as in Liquid - use Image/Pan & Zoom

• Bins are similar to Liquid's bins/folders. Some bin's have tabs for sub-features.  The project window is a bin with tabs.

• Instant HELP... Wherever you are in Media Composer and you are stumped about a setting, you can just right click and choose the What's This? option (1). This will not only open Media Composer's Help but help for the exact setting you have right click (2)!!!

• Fuses are called MIXDOWNS.... and you have to do both an audio mixdown and a video video mixdown (you cannot do them both at once)
   

• Think QT in MC.  Generally speaking you only export a Quicktime reference movie and then use the QT ref movie in Squeeze to create whatever type of file you need.  MORE
   

• MC and "Instant-save"  -  If you go into the "bins" section of your user settings, you define the intervals for auto-saves and forced auto-saves. I have both of mine set for 5 minutes and I find that more than sufficient. Also, in the bins settings you define how the attic files are handled. These are automatic back-ups of all of your projects and bins.

  Press CTRL+S, wait a couple of seconds and you're done

• Activation Issues - NIC card and Registration - The software license scheme relies on an enabled network adapter to successfully activate. Upon each launch, the application requires the adapter to be enabled in order to validate the license.  More

• To find system ID and serial number and  - Launch MC 5 and open a project, then go the the tools menu and select "console". Your system ID number and serial number will be listed in the resulting console window.

One of four editing modes are always indicated on the lower or bottom toolbar of the timeline.  One of these modes is always selected and indicated by darker blue around the selection.

In Source/Record mode you will turn on and off Segment Modes icons (LIFT and EXTRACT) and use the Lasso to select segments of the sequence (timeline) to move segments (clip or multiple clips/effects/transistions) around.

In TRIM mode, the Source/Record monitors change into the TRIMMER, and your editing will be done in those video windows using those window's toolbars as well as menu and shortcut keys. 

In EFFECT mode

Color Correction Mode - later

You use SEGMENT MODES when you want to move SEGMENTS (clips) around on the timeline.  You turn SEGMENT MODE off when you want to use the playline to move around in the SEGMENTS.
 
 Extract/Splice In mode (yellow)

 Lift/Overwrite  Mode   (red)
 

Floating in and out marks. If you already have an in or an out marked on a clip or sequence, parking the position indicator on a mark and holding down ALT while dragging will drag the mark along with the position indicator.

And another from you in respect with Ctrl+5 I have posted.

Go to the "Special" pulldown menu and choose "site settings". This will open up a small site settings window. You can then drag any user setting, including media creation settings in your case, into the site settings window and manually save. From that point on, any new project you create SHOULD honor the settings you have saved in that window. And if you don't find site settings in the special menu, with user settings displayed in the project window, click on the fast (hamburger) menu and you should find it there.

Transition Move