If you mean can you record and mix music audio in Vegas, the answer is yes. And it depends on your audio interface if you want to overdub.
I record and mix in Vegas just as I would in Pro Tools etc.
There are many variables that dictate the final quality of your product just as if you nwere recording to tape or a hard disk recorder like a Mackie. I actually use my Mackie's (SDR 24/96) to record and have compatible caddy in my desktop or via firewire caddy to my notebook to either transfere the data or mix directly off the drives from the Mackie. in Vegas.