Just to clarify, are you saying there is no way to capture all 4, 12 bit channels with VidCap 50? I just shot 6 hours with my Canon XL1s in 4 channel mode. I'd hate to think that there is no way to get it into V5. In this particular shoot, I have 2 channels for ambiance using a on-camera stereo mic, 1 channel from a wireless lavaliere mic, and 1 channel from a camera mounted shotgun mic. The two mono channels will be mixed for the center channel and the stereo to the left and right channels.
I use Scenalyzer Live to capture my 4-channel stuff. It will capture Video + Stereo 1 into an AVI file while simultaneously capturing Stereo 2 into a separate WAV file. Then just bring both files into Vegas and they will be perfectly aligned if you start them at the same place on the timeline.
Yes, I've used Scenalyzer, but for some reason the channel 3/4 wav file is just slightly larger than the avi. I have found the audio to be off 4 or 5 frames every 10 minutes or so. Relatively easy to fix, by cutting out one frame time every couple of minutes from the wav file, but I was hoping that a high-end package like V5 would be able to handle 4 channel captures internally. Guess not. Thanks for the reply.