Premiere is an awesome program to edit with. I don't have the best computer in the world so it takes a ton of time to edit with premiere. I can edit quicker with sony vegas. Like justin said, rendering takes FOREVER with my computer too. I need to upgrade to a faster processor but haven't yet. We're wanting to go HD next year so I will need to make some serious upgrades before doing so.

I like both vegas and premiere. Vegas will do almost anything you need it to. Premiere has a few more options though. If you plan on going HD down the road, I would suggest Premiere since it allows HD editing. Vegas doesn't.