Thanks to both of your responses.
I noticed that when I have an external drive connected to my mac, Resolve will not read my media, even though both my internal and external drives show up in the library section. Once I eject the external drive, then I can see the media from my internal drive; but even then, workflow is a bit jerky.
Importing Final Cut Pro XML files from Premiere 5.5 to DaVinci doesn't always import the proper media into the media pool, causing the wrong footage to appear on the timeline. The XML importing is what attracted me to DaVinci.
Anyway, I will figure it out, if not I will probably upgrade to Premiere 6 and try Speed Grade. Not that DaVinci isn't great, it's just obviously not working well with me
Thanks again fellas!
JZ