Surely the most pointless option on Sony Vegas 12.
If editing using interlaced video such as PAL 720x576 this should be switched on by default.
As wonderful as Vegas is by not having this option ticked there is horrendous 'shimmering' on the rendered file.
Of course I want to 'reduce interlace flicker'!
They might as well have an option 'add interlace flicker'!