Perhaps it's common knowledge, but I just discovered that if you trim AVCHD footage from a Sony Handycam in PlayMemories, it will smart render the trimmed file. The trim function is pretty clunky, but it does seem to be frame accurate. Just trimmed 2 min off the front and 1 min off the end of a 11 min clip and it took about a minute to render. I've tried other software for trimming in the past, but oftentimes the trimmed files did not work well or at all in Vegas. It would seem pretty useful, especially for b-roll footage. Just thought I'd share.
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wwaag