Personally I think Vegas is the best editing software around. I used to use it on my XP box and once you've got your head around it, it is very powerful. It was only once I got Vegas that I was able to realize my full "Woodstock The Movie" multi-track dreams ...
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The best thing with Vegas is that you can chuck loads of media at it in different formats, yet it is still able to preview really quite complex edits in real time without need for you to render the full video (on a 3 year old high end Thinkpad).
I've since moved to be a Mac user, and I must admit the one thing I miss software wise is Vegas
. I do have Final Cut Express as a replacement but frankly, despite all the raving about it and its use professionally (well obviously full Final Cut), it simply isn't as good as Vegas! The Express version is somewhat shackled in terms of what standards it'll render at, but worse than that it's useless at real time conversion and preview. Hence you dump some media in and at best (on my last year's top end MBP) you get a jumpy 10fps preview, or at worst it'll refuse to play it at all until you've re-rendered it. It even has the same problems with audio which is frankly laughable given the tiny processing effort audio takes eg. you drag in an MP3 as a soundtrack and it won't play it at all in preview because it's not the intended output format (so you have to render it to be the correct format)!