I've used Real Converter and similar utilities several times. While they will convert RM files to AVI and MPEG and a couple other formats that Vegas can open, the results vary. I think the big problem is most of the time the source file if RM, is both low bitrate and low frame rate and the playback therefore is choppy and lower quality. Conveting won't change that, but you can modify in Vegas once in a more tradational file format and maybe make it a little better. The operative word is maybe. I once found a bunch of RM movies of 60's-70's commericals. Some converted nicely, others poorly, a few not at all.