The ProxyStream script - is it also supposed to work with the 64bit version of Vegas?
I'm asking, because I somehow lost track of what does and what doesn't work with 64bit (and probably which is the right place to put the dll's so that they're available to both Vegas versions).
I've been using Peachrock's Multirenderer in his excellent Veggie Toolkit to do these kinds of tasks for years and years. The great thing is of course it automates Vegas, keeps logs etc. Just point it at a folder containing the media, teil it which template(s) to use, where to put the rendered files and let it rip along.
OK, it isn't free but I've made a massive ROI from using it.