I've got two clips that I cannot sync as closely as I would like. I remember reading something here in the past about how to Quanticize to frames or something...or some way of allowing more precise alignment of audio peaks....

Yes. You would turn off "Quantize to Frames", adjust the audio, and turn it back on. Or upgrade to Vegas Pro 9 which will now adjust audio only at sub-frame levels without having to turn off "quantize to frames".