I was wondering if anyone knew how to make a certain part of your video in color, but the background black and white? I'm not sure if I'm explaining this well enough, but if anybody understands, please help.
One or two colors is easy to do but if you want your whole subject that is harder because you have consider color of the clothes, skin color, hair color, eye color, etc.
Then you get into the wonderful world of roto (rotoscoping), ie. cutting something out and following it.
Vegas can do Bezier masks, but you may soon find that the work is very tedious and can be quite difficult.
If you have After Effects, get the Silhouette Roto $295 plug-in and you'll be in heaven. This tool only does roto, but it does that really well with tools that are not likely to be in Vegas 7, 8, or 9.
You have built-in point and shape tracking to move masks, you can define masks in more ways, you have variable edge softness on a point-by-point basis, etc., etc.
Doesn't get any better. There is also a standalone version of it for slightly more money.