You can toggle an individuall effect on/off in the Plug-in chainer or globaly with the audio effects bypass toolbar icon.

I guess what I am trying to say is: In real time, how do I monitor say reverb on a vocal track while recording it? I know how to monitor while mixing.. Second, I don't want to print the reverb on that track (it is only for the vocalist) as I will add a reverb at a later time when mixing?

Yes it is entirely possible. You didn't say which version of Vegas, so I'll describe VP10....

From View Menu, select "Mixing Console".
Arm (record Ready) a track; right click Arm button and select "Input" = Input Monitoring Auto. This will allow monitoring of Input before you press Record, and you will hear the recorded material when you press Play after recording.
At top of Mixing Console select "Insert Assignable FX" then select a desired Reverb from the suggested FX.
You'll now find a dedicated FX channel containing that Reverb inserted into the mixer - you can Send to that from a small fader in your Armed channel, as well as all other channels (may have to select "Sends" in the mixer left side selection panel to make the Send visible in the channel).

And I thank you ChristoC.... Have a good weekend

And just to clarify - no FX are 'printed' until the project is Rendered.

All recorded media (even if recorded with reverb in the Record Monitor signal) is the pure un-FXed source signal.

geoff

Actually, my previous answer was long and complicated, unless you wish to 'share' the same FX between a few channels.

You can just add an effect to the channel's own FX Insert - happily, the FX chain in individual Channels WILL NOT BE RECORDED.

However my suggestion to right click Arm button and select "Input" = "Input Monitoring Auto" is entirely useful!

Hey J , do you a have a frock on ?

;-)

geoff