From Creative Cow-

Taking advantage of new features in Apple Final Cut Studio 2, CreativeCOW.net Contributing Editor Stephen Smith freshens up the approach to an old effect. Project files are included so you can follow along, and customize to your own tastes. So enjoy all of the vintage scratches, flickers and dust galore that make up the classic old film look.

Watch the video tutorial here.

Steve also has a non-video tutorial on creating the old Film Look here.