I'm using Vegas 4.0 to record very simple multi-track demos on a laptop computer. In a previous version of Vegas (2.0h), you could record as MP3's rather than WAV's to save space. I can't find this option in Vegas 4.0. Is it possible to record in mp3 format instead of as wav files?
I doubt you were able to record directly to MP3. Vegas always records in uncompressed PCM format. You probably rendered (Save As) to MP3 instead of to WAV. You can do the same thing with Vegas 4.
That being said, saving your recordings as MP3 will result in some quality loss. It would be preferable to get more hard drive space instead.
When you say "save as" .pca, do you mean rendering the finished track? I'm more concerned about saving space while recording, since the multitrack wav's are the files that take up so much space. I remember being able to adjust the actual RECORDING format to mp3, but maybe I'm remembering incorrectly...