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You know how Microsoft named their new products with an XP? Well, Macromedia is following the 'leader' of the industry and naming theirs MX! Seriously its just a branding thing. It sounds cooler than version 12.0 (although if it really were 'ex-oh' like knockout XO that would be pretty cool).
Microsoft found out when they started with Win95 they would have to change the name more often and get people to buy new versions because the years were off. Then they came up with the great naming scheme that ended with Win95, Win98, Win98SE, WinME, Win2k, WinXP... ad nauseum.
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Freehand is a great product that features 'multipage document' features with better type handling than Illustrator. I've found much of the differences are really personal preference. BUT, the industry as a whole supports Illustrator much better. Some of that has to do with market share, but it also has to do with the emphasis of Adobe on print media.
Macromedia has taken the multimedia and internet markets to a greater level like Adobe has taken print.
Feature for feature, I'd say they are comparable. Some of the new features Adobe has in Illustrator 10 are great.
Its kind of like Adobe having the reigns on PDF and postscript, and Macromedia has control of the direction for Flash and and multimedia/web work. While not entirely true, its at least a dominant force for each.
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