when searching for missing items, it would be extremely useful to be able to point the search facility to a folder. currently, the only options available are the root of any or all drives, which is a little frustrating if you have a massive library, and have a good idea where your file is...
In my own experience, the search only took a couple of seconds on a full 300GB drive. But then the thousands of clips were not located in multi-layer nests; perhaps Vegas would take longer to search in that environment.