Although I started my video learning with DV and Vegas, I switched to Edius years ago because it could natively edit the DVCPRO HD from my HVX-200. I'm thinking about switching to another editing program, and wanted to know how Vegas handles DVCPRO HD these days.

To my knowledge, there is no native workflow for P2 media in Vegas - I am almost positive you have to use an intermediate format, as I cannot import my DVCPro HD media...

I've heard good things about the DVCPro / HD workflow in Vegas using DVFilm's Raylight (http://dvfilm.com). Haven't done it, myself.

Mark:
Also, Cineform's neo hd can handle DVCPro HD. Kinda expensive, but depending on what you're doing, you might want it anyhow for creating intermediate files... say for complicated composite shots.
Ken