As has been noted previously, when capturing HDV with the internal capture app in Vegas, Time Code on the captured clip always starts from Zero, no matter where in the tape you start. This means that unless the whole tape is captured from the beginning, the time code in the clip in Vegas does not match the original camera T/C.
BUT,
I've just done a capture starting mid-tape (using Z1 camera), and although afterwards the captured T/C did start at Zero as described above, I noticed that during capture, the actual Camera TimeCode was being accurately displayed in the Internal Capture window, bottom right hand corner, the left of the two time code read outs.
This means that Vegas IS indeed able to read the correct time code when starting mid-tape, but for some reason it doesn't transfer it to the clip thumbnails, as it does with DV.
I hope this can be sorted in the next update.
BUT,
I've just done a capture starting mid-tape (using Z1 camera), and although afterwards the captured T/C did start at Zero as described above, I noticed that during capture, the actual Camera TimeCode was being accurately displayed in the Internal Capture window, bottom right hand corner, the left of the two time code read outs.
This means that Vegas IS indeed able to read the correct time code when starting mid-tape, but for some reason it doesn't transfer it to the clip thumbnails, as it does with DV.
I hope this can be sorted in the next update.