About the plug
Final Touch Pro is tailored as a master-plug to spark Final Cut Pro (version 3-7) and Final Cut Express. It is supposed to be the final touch you do on your program. The best way to work is to nest your clips and get just one clip to apply the plug on to. The plug contain effects that are particularly desired in finishing, thus canned in one flavour: high quality.
About the three effects & when you should use them
Note: Overscan Cleaner should be turned off when you do a master for a (TV-) broadcast or when you master to any form of tape.
It basically puffs your highlights (Glow) and to compensate for the brightened image there is an option to add color in the dark areas. Video cameras has a great depth of field resulting in a crisp picture and this effect will add the nice blur of film to your video. It should also help your compressor when you export to DVD Video or QuickTime since it has smothered your image and adjusted the contrast. Expect the same quality with about ten percent lower bitrate than usual.
Its basically a really complicated de-interlacer. It will take some time to render but you will finish with fabulous and soft result. You should always de-interlace video footage and field-based renders when producing video that can be viewed on a computer (DVD Video and QuickTime). To be accurate, its when your movies become larger than half of your working resolution: height > 288 for PAL (Europe) and height > 240 for NTSC (America). Film Strobe is in many ways comparable to ordinary Motion Blur. It performs similar results to your footage where things move in the picture (e.g. car passes by or a zoom / pan) as Motion Blur does to your graphics when its position on the canvas changes. You can also compare the quality / render-penalty between Film Strobe/De-interlace as to Motion Blur set to on/off. If you know youll use this effect in the end you should select field based render in all other applications (e.g. your 3D-apps) since Film Strobe will make your fields blend smoother.
This nice deinterlacer can be applied with opacity which is really useful.