Thanks Spot.

I'm a little puzzled that having the codec installed is the evidence that Vegas5's pipeline is capable of 4:2:2 YUV.

I have NewTek's RTV (8bit YUV) codec installed and listed with Vegas4, and that assures me of very little.

Project properties doesn't specify a codec (unlike Premiere6.x), or do they?

If internal support for 4:2:2 is done and dusted. Will all the filters and transitions also operate in 4:2:2 native with the full dynamic range?

How about in the instance of flipping between BGR32 AVIs and DV. Will Vegas5 simply flip and flop between each of the pixel packing formats?

I hope this doesn't become heated as the conclusion from when it was ascertained that Vegas4 was RGB and 8bit constrained was that it was mitigated by a good bit of math by Sony.

Nice to understand this esp. when HD and ProSD features are touted.
Much as the benefits are academic, the new engine might help remove the amateur clothing that other product owners associate with Vegas. I'd be happier if they all stayed with their NLEs personally, less competition!

I don't know that it's "done and dusted, that's for Sony's engineers to comment on. Vegas does render transitions/filters with full dynamic range, yes. I'm also sure that in the transfer process, the algorithms are excellent, you can test it yourself pretty well with the scoptes. I'm equally sure that there will be a pixel or two out of whack depending on what your image contains. When you get into legal color issues....There was a huge thread on this a few months back.
Project properties DON'T specify a codec, as it's somewhat irrelevant to final output. For instance, I frequently build exceptionally high rez stuff at 320 x 240 in properties, and then scale it up at render. Regardless of source media, this is a good method for some things I end up doing.
Keep in mind that if it's worked in Vegas that everything is processed with 8bit.
Do some test media renders with the 4:2:2 codec, see what you think. Match it up against some DV as well, see what you think. I think it matches very well.

You can import and export tons of different formats but the processing of data is always the same: 8-bit RGBA 4:4:4:4

That is excellent enough for me.

That long thread from months back did miss the point. Vegas4 does a quality job on both imported RGB media and the typical pre-recorded/broadcast YUV space. Vegas5 is no different quality and performance wise. That is simply dandy.

YUY2 4:2:2 and DV 4:2:0 (PAL) isn't a perfect fit into RGB 8bit, but the lack of significant generation loss in Vegas is testament to the algorithms employed.

I would have expected any pipeline change from 8bit RGB to be in the specification list. It is also a pity that DV.AVI doesn't support an alpha channel, something folks don't usually fathom unless they are application hopping animators/rotoscopers that love DV for everything

Thanks for the clarification SonyEPM, Spot and rcc.