Microsoft has many HD-WMV demos that you can drop right on the Vegass timeline. And I can say for a fact they are spectacular when viewed on the big screen.
I actually have to defend Zippy here for once. The WMV-HD clips are available too, but I'm not sure that Mac is so far behind as everyone thinks. Their point in this clip, which is why I liked it is that the ability for simple, portable hardware to be able to playback HD is now a reality. I don't have a lot of experience with Firewire 800 but the drives seemed to play back the footage at full frame rate. Unless you're dealing with a WMV file, you'll see HD .avi's choke Vegas unless you're playing from a SCSI drive.
The point? Faster hardware means a faster path to less rendering for DV and SD as they mentioned. That's something to be excited about. Am I excited about FCP? It's a great program for editing film. For video, I can't leave Vegas because it's too stable and quick a tool. But the future is something to get excited about.. for every platform and NLE.
Remember that HDV is on the horizon and as far as I can see on the
boob tube (HD Boob) the difference between HD and HDV is so slight
that its a tossup. Not so on the big screen.