I was hoping for something a bit more automated. ;^)

If you know what the tempo of the song is, adjust the BPM in the audio properties dialog. Then the snap to grid will work in time. That's what I do and it works good.

Aside from visually aligning on the hits, etc. Vegas provides a very useful Measures and Beats grid.

You set this up in the Properties Dialog for the Project (File, Properties) - this is not the same as the Event Properties. In the Project Properties dialog, go to the Ruler tab and there you can set the BPM for the project as well as setting the Ruler Time Format to Measures & Beats. You can also set the Beats per Measure and beat division.

The other part of this makes it all work very easily is to Enable Snapping and Snap to Grid. The Snap to Grid will cause a visible grid to be displayed on the measures, beats and beat Divisions and then you can align the audio events easily as they will snap to the beat divisions, etc.

Lastly, there's a very good keyboard shortcut that work with the Grid:

Nudge selected Event(s) right on grid
Ctrl+Right (arrow) number pad 6

Nudge selected Event(s) left on grid
Ctrl+Left (arrow) number pad 4


This is all similar to Acid but without the automatic timestretch and pitch shift. But of course in Vegas you have MUCH more powerful editing tools than Acid. You can also timestretch, pitch shift (with and without timestretch) in Vegas via the Event Properties. The timestretch in Vegas 2 is sub-par but Sonic Foundry says that the Vegas 3 timestretch will be much better. The Change Length and Pitch version of pitchshift sounds fine in Vegas and that's what I use for my DJ mixes that I do in Vegas - after all, it works great on turntables ;-)...

Hope this helps!