Pressing F2 sets the Out point and opens the Log Clip dialog. All the takes you have marked as good will have a check mark by them in the 'Good' column of the Browser for easy reference. Some of FCP's many Browser columns. Good takes can be marked during or after logging. All the information about the clips you want to capture is presented in this Batch Capture dialog.
Handles Specify extra seconds to be added to the head and tail of each clip as it is captured.
This makes up for reaction time as you press your In and Out points. Your logging should be fairly loose anyway, with at least several extra seconds at head and tail. In and Out points. All you have to do is feed tapes as Final Cut Pro calls for them. This is the time when your naming scheme for tape reels will be called to account.