Yup - totally Twixtor is the stuff! I can think of a warp-stabilisation plugin, but don't know what exactly it is called for FCP. It's one that will get your handheld video much more stable, nearly steadi-cam like...
I run traxxas plugs....gold played and lots of serface area... I run a 90c jet boat and never had one melt --- I am here: http://maps.google.com/maps?ll=49.237196,-122.874065
Your imagination is the limit with this program...try for example: Boris Color Finesse DFT64 DigieEffects Foundry Genarts Lenscare 64bits...