Sony Vegas will do all you want as far as editing is concerned, what version do you have? As Mark pointed out you will need to convert those awkward wee s****s of .VOB files into something more easily edited and that means .AVI, my suggestion would be get all your continious soundtracks together first and then cut the pictures to the beat, you can also use effects and transitions much more in music videos than in a wedding video and get away with it.

__________________
Better than a poke in the eye with a pointy stick any day...