Yes. If you are totally satisfied with the combined rendering, you could also delete the underlying capture file which can also take up a lot of space. However, once you delete that file (those files), your .veg file(s) (the project file(s) where you did your editing)will no longer be useful in making any further changes to your project.

Of course, you can always recapture some segment of your source video, and you can also, obviously, drag that final #3 render to a new project timeline to make changes and add any new captures as you desire.

I usually create a folder for each project so that I can easily delete everything I no longer need when the project is finished.

Hope this helps.

Caruso