If I bring in 5 gigs of video and edit it down to 1 gig how can I be sure I get rid of the footage I have edited out in vegas. I dont want it to fill up my hard drive.
Under File / Save as, save your project to a new folder and click the "save all media with project" option. Ths will place trimmed copies of all the media appearing in the media pool into the folder with the .veg file. It's a good idea to clean the media pool first.
Note that only trimmable media will be trimmed. This generally includes DV .avi files, uncompressed .avi files, .wav files. Most any compressed media such as MPEG, MP3, or WindowsMedia will be compied entirely instead of being trimmed.
Another solution would be to render the trimmed segment to a new file and then simply delete the original file. When editing 3 camera shoots, I frequently will edit a segment, render that segment, and then delete the individual camera clips.