hi, i thought this is most relevant to film look and color correcting.

Now that vegas can do 32bit color correction, does AE still have an edge over vegas? Other than more plugins?

Vegas:
The secondary color corrector is better in my opinion. AE uses HSL maths for the color adjustment portion, which don't look that good IMO. (But Vegas' secondary CC could be a bit better.)
No conform if your edit started out in Vegas.

AE:
Very good for doing masking / spline-based windows. Masks can be motion tracked.

This is not color-related, but AE can do things like paint, stabilization, etc.

I imagine it makes no difference unless you are working with film. DV and HDV have little color information to begin with...Using 8bpc is not going to hold you down.

I imagine it makes no difference unless you are working with film. DV and HDV have little color information to begin with...Using 8bpc is not going to hold you down.

Take a look at this article and example. It appears that 32 bit processing does make a big difference even on 8 bit DV/HDV..

http://paolociccone.com/blog/?p=12

It's probably linear light processing at work. You need 32-bit precision to do that.

8-bit filters and transitions are capable of that if all the intermediate/in-between calculations are done in 32-bit. In any case, both Vegas and After Effects are capable of doing that. (*It might be slightly messier in Vegas.)

One thing to keep in mind about the Vegas 32 bit mode is that some of us have had no luck getting it to work. Crash, crash, crash. I'm using Cineform which might be part of the problem but it almost never works for me except on very small projects. 8 bit works fine.

Little experience with CC in Vegas, extensive experience with AE, and from what I've seen so far, Color Finesse (included with AE) is a hard app to beat, but there is a lot to be said about Vegas's playback performance with heavy CC filters, which can have significant impact on your workflow efficiency.