For those of you still unsure of GearShifts logic, and what Vegas tools it utalizes, and who have "Not Read the (Vegas) F****g Manual", this quote from said manual should help.

QUOTE: from Vegas manual:

"HDV Editing with Vegas Software

HDV cameras record high-definition video to standard DV tapes using a highly compressed variation of the MPEG-2 format. Because of this compression, you can capture HDV clips at data rates that are no higher than DV capture.

However, editing and previewing this highly compressed video is impractical without a very powerful computer that is optimized for high-definition video. We recommend converting your HDV files to an intermediate format for editing.

Depending on your final delivery format, working with HDV source material requires some adjustments to your workflow. This topic will help guide you through the decisions to streamline the process.


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What do you want to learn more about?
Choosing a capture format
If you will be delivering your project in standard definition (SD) via DVD or DV tape, you can use the camera's built-in DV downconversion (if available) to convert your HDV video to the DV format. Use the camera's Options menu to set the camera to output DV, and you can capture and edit video in the same way that you normally use DV in Vegas projects with no need for intermediate files.

If you will be delivering your project in a high-definition (HD) format, in both SD and HD formats, or as SD 24p video, capture HDV clips and then convert them to an intermediate format for timeline editing.

Creating intermediate files
If you've captured HDV clips, converting to an intermediate, lower-resolution format will streamline the editing process and allow you to preview your project.

Start a new project.

Add your captured HDV clips (MPEG-2 transport streams) to the timeline.

Render your clips to an appropriate intermediate format.

You can verify a template's codec by looking at the Video format drop-down list on the Video tab of the Custom Template dialog.

If you're performing frame rate or frame size conversion, ensure the Video rendering quality is set to Best on the Project tab of the Custom Template dialog.

Destination
Intermediate Format

HDCAM over HD-SDI
Render an .avi file that uses the Sony YUV codec. The frame rate and frame size should match your HDCAM master.

Digital Betacam or XDCAM over SD-SDI
Render an .avi file that uses the Sony YUV codec. The frame rate and frame size should match your master.

24p DVD
Render an .avi file that uses one of the following codecs:

Sony YUV (offers the highest quality, but requires a high-performance drive array).

CineForm HD (offers excellent quality with good playback performance).

Sony NTSC DV Widescreen (use the NTSC DV Widescreen 24p (2-3-3-2) pulldown .avi template).

Windows Media HD
Render an .avi file using one of the following templates. Choose the template that matches your HDV source:

HDV 720-30p intermediate.

HDV 720-25p intermediate.

HDV 1080-60i intermediate.

HDV 1080-50i intermediate.


Tips:

If you don't want to convert all clips in their entirety, create regions to indicate the portions of the captured HDV clips that you want to convert to an intermediate format, and then the Batch Render script to render the regions to the desired format.

Remember that Vegas software supports multiple instances. You can use one instance of the application to render your intermediate files while you continue editing in another instance. Use network rendering to queue multiple render jobs.

Using DVD Architect software, you can create a DVD that contains an SD version of your project and place an HD Windows Media version in the Extras folder on the disk. When you browse to the Extras folder via Windows Explorer, you can play the HD version and output it to your computer's display, a home theater, or a projector.

Replacing intermediate files with HDV source for HD delivery
If you're planning to render to a format that supports high-definition video, replace your HDV intermediate file with the original transport stream after you're finished editing and before you render.

If your intermediate files were rendered using the CineForm HD codec, you won't need to replace the intermediate files with the transport streams.

Right-click the HDV intermediate file in the Project Media window.

Choose Replace from the shortcut menu.

Browse to the MPEG-2 transport stream that corresponds to the intermediate file, and then click Open."

Mike