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Mike the beginner
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In current practice, I think the offline/online process is still the way to go. Let's suppose you could edit Red in 4K resolution on Final Cut, in real-time. The problem with this is:
A- FCP will likely have abysmal real-time performance for color, effects, etc.
B- Monitoring 4k well and delivering 4k (or film) costs money. You might as well rent these specialized facilities.
If you get 4K monitoring and other things you need, your suite is fairly expensive and you're burning cash by tying up this equipment. It's cheaper to move editing to offline suites, and then online in your 4k suite.
Offline/online generally saves you money / gives you better quality. But if you can online on a cheap desktop system (i.e. everything including monitors and real-time editing system for under $10k), then that would be a more ideal workflow. Until good 4k/HD monitors become cheaper, and cheap editing systems become a lot faster, offline/online is still a good way of doing things.
I just read PC Format (uk magazine) and it mentioned a Japanese company Kawaitech is experimenting with Organic Displays. It uses cellulose, by putting an electric pulse through it, it can produce incredible resolutions for TVs. It quoted 20,480x16,384. The usual big guns like sony etc are showing an interest.
Would certainly make things easier for you guys when monitoring.
Mike the beginner