I was thinking the same think as you Ian, but what made me decide to get it was the ability to encode audio in AC-3 Stereo format. Using AC-3 versus PCM encodes the audio better (read smaller) leaving more room to use higher data rates for video.
Higher data rates for video should translate into better video quality.
Ian, tell me more about the cleaning up audio bit. I downloaded the trial version but haven't seen that one yet.
The VMS blurb says "Remove clicks, pops, and other unwanted noise from your video footage" - the only tools I've found are a simple noise gate and an equaliser (among the audio track fx)! Noise gates are good for clicks and pops, but I was hoping for something a bit more sophisticated, and certainly something that could be used more selectively than a track at a time. I'll stick with external editors like Audacity.
AC3 encoding is a plus, though I'm in PAL land so I already had the option to use MP2.
When I get my upgrade package, do I install it over the trial version or should I uninstall the trial version first? The manual may say but I thought I would ask ahead of time anyway.