I have to admit that I hate Adobe Premiere Pro.
But the sad truth is that it supports so many plugins that it's impossible to beat.
If only Vegas 6 would support premiere plugins...
As Vegas gains acceptance more third party support will come. Vegas is in many ways still the new kid on the block. Premiere has been around forever and often is bundleed with hardware. While Premiere has lots of plug-ins, Vegas can do many similar things natively without plug-ins.
What EFFECTS or features are you looking for that you think can't be done in Vegas? Ask that and I'm sure you'll get lots of responses.
I use custom transitions made manly with canopus xplore professional 4.
I dont think Vegas can do it in any way similar to what I do with premiere and xplore, which is a shame since I love Vegas.
I can work very quicly in Vegas, and very slowly in premiere
I use Hollywood FX in premiere too.
the transitions in Vegas are too limited for my kind of work