If I buy a new copy of Vegas pro (now version 19) are the veg files created compatible with version 16 software.
i.e Will I be able to edit on either version 16 or 19.
I would like to be able to transfer files between my version 16 at home and a new install at my office. In an ideal world I would like another copy of version 16 to install at my office, but this does not seem to be available now.
System - Windows 7 and 10
Vegas19 will read VP16 veg files, however; VP16 will not be able to read veg files produced by 19. The good news is that 16 & 19 can coexist on each machine. As a precaution I would make a copy of the vp16 veg file, and 'save as' from vp19 to a new name.
If I buy a new copy of Vegas pro (now version 19) are the veg files created compatible with version 16 software.
In a word, no. If you open a .veg file in a later version in which it was created, you will get an alert window stating that saving it will override access to previous Vegas Pro versions. So it's always a good idea to keep backup copies of the .veg files created in a previous version.
Will I be able to edit on either version 16 or 19.
No. Anything edited in Vegas Pro 19 cannot be opened in an earlier version. The only exception to my knowledge was between Vegas Pro 11 and 12 - there being no major differences between 11 and 12 meant that backward compatibility was possible - but not since then.
System - Windows 7 and 10
Please see the recommended minimum specifications for Vegas Pro - https://www.vegascreativesoftware.com/us/specifications/#productMenu
Windows 7 is not officially supported by by Vegas Pro 19. This is not to say that it won't work at all, but some functions won't work such as the Artificial Intelligence FX to name just one function.