Sony Vegas Pro is a victim not of production but of positioning. The features it has work well, and there's not really anything inherently wrong with it. The problem is that most users will fall into two camps, those who want the absolute best, and those who want the cheapest decent option, and this product falls into neither category.

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The big selling point of Sony Vegas Pro is the introduction of 3D support. It takes a comprehensive approach, not only working with footage from dedicated 3D cameras, but allowing users to work with 2D clips via a stereoscopic effect.
There's also an excellent on-screen display system that can be easily customised to fit in with your preferred method of working and the particular tools and clips you have open at any time.
Overall, Sony Vegas Pro is very much aimed at the professional end of the market. Although there are some useful interactive tutorials, the sheer volume of on-screen options is likely to be offputting for anyone without a decent level of experience of editing to professional standards.
With this in mind, expectations inevitably become higher and that's where Sony Vegas Pro starts to fall a little short. For example, there are very occasional crashes that would be bearable in consumer use, but won't be acceptable for those working commercially. It's also not quite as smooth to use as some industry standard rivals and is missing a few features available elsewhere. While you may save some money buying this, it could be a false economy.
Pro's: Extremely powerful application; good interface for pros
Con's: Too complex for casual use; not quite complete for high-end use
Conclusion: Worth a try, but most people may find another product more suited to their needs and budget.

Vegas Pro (64-bit) provides an efficient, intuitive and integrated content creation environment for video and broadcast professionals. Now featuring GPU-accelerated performance with OpenCL -supported devices, Vegas Pro (64-bit) powers through video processing and rendering tasks with ease. With innovative stereoscopic 3D tools, broad format support, unparalleled audio control, and GPU-ignited effects processing and rendering, the Vegas Pro (64-bit) collection streamlines your workflow like never before.

VEGAS Pro is a video editing software for non-linear editing. This video is about last released 32bit version of Sony Vegas Pro. Hope, it will be useful for.

What’s new in this version:

Added smart rendering support for Panasonic P2 files.
The Panasonic P2 format now preserves 10-bit color when rendering.
Added support for rendering 29.97p, 25p, 59.94i, and 50i AVC-Intra 100 Panasonic P2 video.
Added an Optimize GPU display performance check box to the Video Preview tab in the Preferences dialog when Windows Graphics Card is selected in the Device drop-down list. We recommend leaving this check box selected. You can clear the check box if you experience system.

Vegas Pro 12 overview

Vegas™ Pro 12 is an integrated, forward-thinking production environment designed for a new generation of creative professionals. Combining a familiar track-based timeline with hundreds of thoughtful workflow innovations, Vegas Pro 12 is a refreshing, modern approach to post-production. Supporting more formats, more workflows, and more creative control than ever before, Vegas Pro 12 makes it easy to deliver your message and express your artistic vision.

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Innovative editing tools
Edit SD, HD, 2K and 4K material in 2D or stereoscopic 3D, with drag-and-drop functionality or traditional 3-point and 4-point editing modes. The Vegas Pro 12 interface provides an impressive array innovative tools and thoughtful touches, with a fully customizable workspace for accomplishing a wide range of production tasks. Nest Vegas Pro projects within the timeline, customize and save keyboard commands, and use application scripting to automate repetitive tasks. The new Expanded Edit Mode temporarily splits the track at the edit point and enables you to dynamically add or remove frames from either side of the edit point while the media is playing, creating a highly precise, interactive editing experience.

Powerful effect and compositing engine
Combine up to 32 high-quality, keyframeable effects per Effects Chain and apply them at the Event, Track, Media, or Project level. Vegas Pro 12 uses an advanced plug-in architecture based on the OpenFX standard, for hundreds of optional effects from leading visual effects plug-in VFX developers. Parent-Child tracks and sophisticated 2D and 3D compositing modes provide a powerful, flexible effects environment. Shape Masking tools and FX Masking capabilities are new for Vegas Pro 12, along with the Color Match plug-in, to quickly match the color characteristics from one clip to another.

Project interchange
Import and export a wide range of project files to and from Vegas Pro 12. The built-in software can convert between the native .veg file and AAF, for Avid® ProTools®, XML for Apple® Final Cut Pro® 7, Final Cut Pro X (export only) and DaVinci Resolve 8, and .prproj for Adobe® Premiere® Pro CS6 and After Effects® CS6.

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Create high-quality titles with Titler Pro 1.0, a full-featured titling application from NewBlueFX. Titler Pro enables users to add animations, professional-style templates, and effects to their title sequences. Work in real-time with GPU-accelerated effects and transitions, and easily move text on the X, Y, and Z axes within the Vegas Pro 12 workspace. With 2D and 3D capabilities, Titler Pro 1.0 is the perfect addition to the stereoscopic 3D toolset.

Designed for performance
64-bit operating systems are the best choice for high-end performance. By focusing exclusively on 64-bit operating systems like Windows Vista 64-bit and Windows 7 64-bit, Vegas Pro 12 overcomes many of the limitations of legacy 32-bit software/hardware architecture, enabling users to enjoy superior performance and improved stability for memory-intensive projects and formats.
Working with OpenCL™ supported devices from AMD and NVIDIA, Vegas Pro 12 leverages GPU acceleration for video FX, transitions, compositing, pan/crop, track motion and encoding, providing a significantly faster workflow. GPU acceleration streamlines the video editing experience in Vegas Pro 12 by providing playback performance gains and faster rendering times, ideal for industry professionals who work on tight deadlines where every second counts.

Stereoscopic 3D editing
Create breathtaking stereoscopic 3D projects with the same ease and agility as the Vegas Pro 2D workflow. Vegas Pro 12 provides the ability to easily import, adjust, edit, preview, and output stereoscopic 3D media — all using industry-standard professional delivery formats including single or dual files with side-by-side, top/bottom, or line-alternate encoding. Anaglyphic monitoring and output are also supported. Stereoscopic Auto-Pairing allows bulk pairing of stereoscopic 3D subclips on the timeline, with the ability to automatically pair stereoscopic 3D media created with the Sony PMW-TD300 or a pair of PMW-F3 cameras using the 3D Link feature.

Superior audio control
Access unlimited audio tracks, 24-bit/192 kHz audio, punch-in recording, 5.1 surround mixing, effects automation, and time compress/expand, while applying customizable, real-time audio effects like EQ, Reverb, Delay, and more. Expand your audio processing and mixing options with supported third-party DirectX® and VST audio plug-ins. Vegas Pro 12 includes support for new 64-bit versions of Sony’s Noise Reduction 2.0, Wave Hammer, Acoustic Mirror, and more. Use the Mixing Console for precise audio control, with sample-based accuracy.

Broad format support
Vegas Pro pioneered the concept of format-native editing, and the latest version continues that legacy by supporting today’s most popular camcorder formats including XDCAM™, NXCAM, AVCHD, HDCAM SR™, DSLR h.264 QuickTime® and RED®. New for version 12 is support for Panasonic P2 DVCPRO and AVC-Intra media. Projects can now be encoded to HDCAM SR MXF files, for pristine quality edit masters.

Powerful Blu-ray Disc™ authoring
Burn movies to Blu-ray Disc directly from the Vegas Pro 12 timeline for high-definition delivery. Use DVD Architect Pro software (included with the Vegas Pro 12 collection) to author DVD or Blu-ray Disc projects with subtitles, multiple languages, and numerous playback menus. Preview and test your work in real time. Import layered Photoshop® .PSD files for buttons and other graphic elements. The MainConcept AVC encoder now supports variable bit rates up to 40 Mbps and average bit rate of 25 Mbps, for better HD quality than ever before.

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What is New in Version 12.0

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Video
* Added new video plug-ins:
– LAB Adjust allows you to manipulate colors in the Lab (L*a*b* or L*, a*, b*) color space.
– Color Match allows you to automatically match the color between clips.
– Layer Dimensionality allows you to add depth to video and images that contain alpha transparency.
* Added Lightness/a/b histogram view, allowing you to analyze your video in the Lab (L*a*b* or L*, a*, b*) color space.
* Added Set to 0% velocity to the video velocity envelope point shortcut menu.
* Hold Shift (for trim) or Ctrl+Alt+Shift (for adjacent trim) while dragging an event edge to ignore event grouping for fast J and L cuts.
* Added tools for creating rectangular and oval masks and for moving, scaling, rotating, and feathering masks in the Event Pan/Crop plug-in.
* You can now use the Apply to FX control in the Event Pan/Crop plug-in to mask video event effects.
* You can now pair stereoscopic 3D subclips at the track level.
* Additional multistream 3D formats are now supported.
* Added support for automatic 3D pairing of single-stream clips from the PMW-TD300, PMW-F3 with 3D Link option, and cameras that append _L and _R to left- and right-eye clip names.
* You can create video proxy files in the Project Media window for optimized editing and playback.
* Added support for the new OpenFX GPU render extension for third party GPU-accelerated effects.

Audio
* You can now preview audio through supported AJA and BlackMagic Design video preview devices.
* Added 64-bit Gracenote support.
* Added support for 64-bit Noise Reduction (Audio Restoration, Click and Crackle Removal, Clipped Peak Restoration, and Noise Reduction), Acoustic Mirror, élastique Timestretch, and Wave Hammer plug-ins.

Formats
* Added support for Intel Quick Sync Video accelerated rendering for Sony AVC/MVC when using a supported Intel processor.
* Added Blu-ray Disc rendering templates for the Sony AVC/MVC and MainConcept AVC/AAC formats.
* Added support for AVCHD 2.0.
* Added support for rendering HDCAM SR (SStP) video using the Sony MXF HDCAM SR format in the Render As dialog.
* Added support for reading Panasonic P2 files and browsing P2 devices with the Device Explorer window. DV, DVCPRO, DVCPRO25, DVCPRO50, DVCPRO-HD, and • AVC-Intra formats are supported.
* Added support for choosing a color space and view transform when working with S-Log encoded images. Color space settings can be made in the media properties and custom rendering templates. The view transform setting is made in project properties.

Vegas Pro 12 system requirements

* Microsoft® Windows Vista® 64-bit SP2, or Windows 7 64-bit
* 2 GHz processor (multicore or multiprocessor CPU recommended for HD or stereoscopic 3D)
* 500 MB hard-disk space for program installation
* 4 GB RAM (8 GB recommended)
* OHCI-compatible IEEE-1394DV card (for DV and HDV capture and print-to-tape)
* USB 2.0 connection (for importing from AVCHD, XDCAM EX, NXCAM, or DVD camcorders)
* 512 MB GPU memory
* Windows-compatible sound card
* DVD-ROM drive (for installation from a DVD only)
* Supported CD-recordable drive (for CD burning only)
* Supported DVD-R/-RW/+R/+RW (for DVD burning only)
* Supported BD-R/-RE drive (for Blu-ray Disc™ burning only)
* Microsoft .NET Framework 3.51 (included on application disc)
* Apple® QuickTime® 7.1.6 or later for reading and writing QuickTime files
* Internet Connection (for Gracenote MusicID Service)
* GPU-accelerated video processing and rendering require an OpenCL™-supported NVIDIA®, AMD/ATI™, or Intel® GPU with 512MB memory or more.