I’m up to Vegas Pro 11 and have been using Vegas since Vegas Video 3.
One thing to keep in mind, you need a really powerful computer to edit video.
Also, at this time, because the 64 bit versions of Vista and Win7 allow far more than 4 gig of RAM, if you’re really going to edit, it would be advisable to upgrade your operating system to Win7 64 bit. When it comes time to render, you’re going to need as much memory as you can get.
Plus, HD video requires MORE horsepower than standard definition video.
The other popular video editors are Adobe Premier and Premier Elements.
Premier, like Vegas Pro, are full professional programs and cost accordingly. Elements is a lite version similar to Adobe’s Photoshop Elements.
IF you’re on a Mac, Mackies usually head for Final Cut Pro.