joe, Love the Braveheart picture! 
Hi medeamajic,
It's true that Apple acts like they've invented many things, whether true or not. But the video doesn't talk about keyword searches, as you're right in saying Premiere has had for some time. It illustrates how FCPX allows you to send pieces of clips to up to 9 different Keyword 'Bins' at the simple touch of a button. Want to send your current clip's in/out range from the Source Monitor to your 'B-Roll' bin for later use? Hit numberpad #8, for example. Want to send your trimmed clip to both the 'Interview' and 'Reaction Shot' bins? Hit #2 and #3. Easy as that! I'll try to find another video that demonstrates this better (minus the arrogant Apple marketing at the beginning of the video I posted).
If no one here seems to need subclips, it's because Premiere Pro has never given us usable subclip tools to work with. As I said before, it's sometimes hard to understand what we've been missing until we finally get it. Hopefully more and more Premiere editors discover the brilliance of FCPX's subclip creation tools, since I imagine that those who understand it fully, and care enough about seeing PP evolve, will soon be posting their own FRs for this. 