All the time since it was first introduced in VP11; works like a charm and saved me tons of time during rendering too. I actually made a thread about it earlier this year "GPU acceleration as it should be"
I have been using it successfully in VP12. Machine is i7-3770k with Nvidia GTX 660ti. I see faster preview times and Windows task manager reports it gets used during renders, albeit at different levels for different render templates. I very rarely have crashes. Mostly I am rendering MC MP4 and frameserving to TMPGENC for MPEG2 (for DVD). Input footage is all AVCHD, from Canon and Panasonic prosumer cams, plus occasional stills from a Nikon DSLR.
AMD GPU user here. I have always been stable for all video sources in what little I have done. I did have one random intermittent hanging problem in one project which was a still slideshow. Recent Vegas, NewBlue titler, AMD driver (13.4) updates and that project circumstance is totally stable.
I have two PC's here and both are i7, 26Gb RAM, have nVidia cards and Vegas 12. One works with GPU on just fine and the other won't no matter what combination of driver levels I use.
FirePro V7900 latest driver 12.104.2 vegas 12 have it on all the time for editing works great have the preview screen running at best full at most times full size on second monitor.
Couple of glitches with curves and if I tick the studio rgb check box in the preview panel (not the plugin) it crawls and some 3rd party plugins still cause issues but that's could well be the plugins. Rendering 8 bit works great, rendering 32 bit I have to turn GPU off it off as it hangs every now and then but that could be the dnxhd codec interaction and it's no big deal haven't tested with other codecs and 32bit
endered with Sony AVC to AVCHD 2.0 files always ~20% bigger with "GPU on" than with "only CPU"?
The exact bitrate of each file is not likely the same. Some reasons for this are due to the differences in how the encoder looks for things that can be compressed. Sony AVC does not seem to try and keep the resultant bitrate super close to the bitrate in the render as dialog.
The GPU option in the Vegas video prefs controls the editors use of GPU. This includes effects, transitions and compositing all you source into a single video stream. This happens during live playback and when encoding a file (render as).
Only two encoders have GPU support in Vegas. Sony AVC and MainConcept AVC. They have their own options to control GPU use and they are independent of the editors GPU option.
The editors GPU use should not affect your file size. The GPU use in the encoder might.