Here's what Media Info found:

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Container and general information:
AVI: 289 MiB, 21 s 21 ms
1 video stream: CineForm
1 audio stream: PCM

First video stream
114 Mbps, 1920 * 1080 (16:9), at 29.970 fps, CineForm

First audio stream
1 536 Kbps, 48.0 Khz, 16 bits, 2 channels, PCM (Little / Signed)
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What can I do to have Vegas accept it on the timeline?
The original footage was .mov,
I just upgraded to Vegas Pro 12 from Pro 8. Used to have LOTS of problem with .mov footage, and Pro 8 had no problem with .avi. That was why I did the conversion from .mov to .avi.

Thanks,

Have you installed Cineform on this system? It seems likely that Vegas doesn't have the codec it needs.

I haven't kept up with Cineform since GoPro acquired it a couple years ago - it used to be that you would download and install the free CF player, later the CF Neo Player, and that would provide the playback codec to Vegas.

I'd be guessing (!) that installation of the GoPro Cineform application would do the same thing?

In any case, have you installed *some* CF application on this system? Try a re-install.

All the Cineform conversion was done on my old computer. I transferred the converted video to the new computer for editing with a flash drive. Everything related to Cineform is on the old computer where Vegas 8 is. Vegas 8 and Vegas 12 are on separate machines.
Thanks,