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I do video editing for a school district and have used vegas with a lot of success. I did about 250 video projects last year, (ya know thinking about it, since thats not my job – Im a Compliance Specialist – thye should probably pay me a stipend) some included multiple cameras (and there is no switching you must sync the different tracks with a little practice its not too bad), Chroma Keying (very forgiving on the lighting) PIP, and almost all projects were needed quickly. We rarely did anything live because kids scratch themselves, pick their noses ya know – and making a DVD was simple and painless. I also used it to remaster the music for a musical, and record music for competitions, and even to record multiple tracks for a Cat in the Hat music video that the students created. My 5th grade gifted students were able to make a Star Spangled Banner DVD that included the words using Vegas, and Digital Juice. For the schools (elementary) it worked great and for a school costs about $250.00 so no complaints.
This year Im being moved to a brand new school with a brand new Production LAb (they told me to spend $10,000.00 on it), and we will be an all Mac school sooooooo…. now I will learn how to use Final Pro I guess