I had to give up using V9.0b to get this done last night. In the end I rendered an AVI out of Vegas and used PPro and Adobe Media Encoder to get the job done.
All I needed was a simple PAL 16:9 SD MOV file for a composer to use as a reference. I tried creating a custom preset in Vegas using H.264 and the vision came out just fine as did the first half of the movie's audio, the second half Vegas somehow repeated the pips at the start of the movie as the soundtrack, darn good thing I checked.
Bob.