IN some circles that's almost like starting the mac/pc debate all over again. Seriously, there's a lot of bias both ways.
That said, without getting into any debate over which OS version is better, Vegas 4 was built (or at least compiled) with .NET, & relies on .NET features for it's scripting according to the docs. XP should be more .NET friendly.
Add in that you can get an OEM version of XP pro online for something like $125 (haven't checked current prices, so may be a couple of dollars off). Not sure you can get win2k for anywhere close to that.