I get this message when I press the play button in Vegas:
Quote Originally Posted by Sony Vegas 5.0
An error occured while starting playback.

An invalid device was specified.

The playback device does not support the current output format.
The playback device does not exist.
(Though I can preview by dragging the time-line, but it's still a big problem and for example I can't listen to the audio in the project.)
I get the same error with all file types, even when working with projects which used to be ok.

Earlier today I had problem watching Frapsed videos. So I checked with GSpot and it said that the Fraps-codec was missing. I re-installed Fraps and now I can watch those again. Maybe this has something to do with the error in Vegas?

Please let me know if you have any ideas of why I get this error, and if you know how to fix it.

Thanks in advance!