Vegas Pro 12 build 394, 4.7GHz i7-2600K, 8GB RAM, variety of internal SATA 2 and 3 disks.
It's not like I haven't used Vegas but this is my first time playing with footage from a couple of Panasonic X900s.
Footage is 1080P. (and I have no problem playing that back in the Vegas preview window at Best (Full))
Simple edit 2 x video tracks with corresponding audio (generally deleted) and a separate audio track (wav from my trusty H2)
No transitions, half a dozen audio fades and half a dozen fades to black.
I've selecetd about 6 minutes from which i want to produce a quick sample so I first render this 6 minutes using MainConcept AAC/AVC MP4 with the "Internet 1080P" template.
This all works fine.
I then dropped this into a new project and set the project properties to = the media.
I then selected two 30 sec clips and butted them up against each other on the timeline and insert a fade to black/audio fade between them.
I render to the same template. It takes a second or two to get up to speen then shoots across to around 50% (but a few frames into the second clip) with the "footage doesn't need recompressing" message.
Vegas continues to ustilise 12% of my CPU, and less than 4GB RAM is in use, but no progress is made. Certainly no progress was made in the time it took me to have a bath.
I had to use task manager to crash out of Vegas.
I tried it again, with different sections of the clip. Same result.
I tried it again with only one event. This time it would get to 100% but then not allow me to close. It just sits there hogging 12% of my CPU.
I've re-rendered the original and have the same issue.