I have been using Vegas since version 1.0 (back when Sonic Foundry was at the helm), and maybe I am biased but Vegas is the best video editing platform I have seen. I have worked with FCP, Adobe Premier, AVID, iMovie, Windows Movie Maker, Pinnacle, and many others, and have to say I prefer Vegas over these. Two reasons:
1. It can be used by the novice user.
2. It can be used by the professional as well.
This platform covers both areas really well. If you are just starting out, Vegas is quick to get in, load up clips, move them around, copy, paste, etc. With its non-destructive editing, it makes it even easier knock something out fairy simple and efficient.
Now if you are a professional, you can load up your clips and do the more advanced editing as well. Key framing, velocity envelopes, being able to treat audio and video clips like "rubber", transitions, fades, and even burning projects right out of the timeline make it nice for professionals to produce high quality work.
I highly recommend Vegas for anyone editing video or even audio. It has, is and will be the number one weapon in my arsenal for multi-media production. Viva Vegas!!!