Not sure if this is strictly a VF question but, does anyone know if it is possible to take one frame from an mpeg and turn it into a jpeg (or other still picture format) ?
In the upper right corner of the video preview window, there is a "disk" icon. Click on it and you can save it as a *.jpg or *.png. However, BEFORE you capture the still, be certain to right-click on preview window and select "Display at Project Size". When adding images from the media pool always add images at full resolution. Then using the pan/crop tool, right-click the pan/crop rectangle and select "Match Output Aspect". This will eliminate all black borders around the image. It's easier and faster than cropping in an external graphics application. It also enables zooming without losing resolution.
There have been several threads regarding capturing images throughout this Forum and the Vegas Forum. Thanks to Jimcho, Chienworks and SonicEPM the who have posted numerous hints about this. If you get into it and have more questions, (especially regarding pixel aspect ratios) see the following thread (It helped me a lot, even though I had to re-do a portion of a production):