I've got Ultimate S 2 and can easily renumber all markers. How do you delete a selected range of markers, either natively within Vegas 7 or Ultimate S?
Edit details for both. You can select everything (click on the blank square at the intersection of the row and column headings) and cut and immediately paste back all the markers. They will be renumbered. To cut a range, simply click on the row headers and then press the Del key.
Vegas 6 has a marker selection tool which will let you select a bunch of markers for deletion. Or you can use the View-Edit Details screen. Personally, I use Excalibur to delete markers in a range or before or after the cursor.
You can delete markers in the timeline. Left-click on the first one, hold down SHIFT and left-click on the last one, right-click the last one and select DELETE.