Sony has announced the specs and features of Sony Vegas 7. We previously mentioned some of the specs that were leaked in advance of the IBC show in Amsterdam. There are a number of improvements, you can read the whole enchilada here.

A few features of note:

*Improved native HDV 1080i .m2t playback performance and improved memory handling for HDV 1080i longform projects
*Comprehensive XDCAM support. All SD and HD XDCAM formats are supported
*Improved DeckLink implementation includes support for current-generation DeckLink PCI-e and PCI-x cards
*Support for AJA SDI cards (requires Xena LH, LHe, LS, or LSe card).
*High-quality H.264 AVC/AAC import and export (including iPod and PSP presets)
*I-frames insertion at marker positions when rendering MPEG-2 (also used in DVDA 4)
*Audio engine improvements, less latency, more realtime tracks, better VST plugin support, Cinescore and BWF support.
*Freehand envelope drawing on the timeline (you “draw” the velocity, opacity, pan, or volume curve, and it smoothly keyframes for you)

In the “Hello 2006″ category, here are some improvements that are way overdue:

*Improved video preview — now includes auto-fit to preview window, simultaneous internal / external preview
*Ability to save, recall, and share custom window layouts
*Improved snapping includes color-coded visual snap indicator and the ability to snap to event edges on other tracks
*Enhanced keyboard customization

(Via DVGuru)