EDIUS is much faster. But Raylight lets you work with Premiere Pro or Vegas, so there's definitely room for both.
At the Los Angeles BootCamp on Saturday David demonstrated Vegas/Raylight, and I demo'ed EDIUS, and people kept asking which one they should get, and it's really a hard choice. I really, really like Vegas as an editor, but I really, really like the speed in EDIUS. I demo'ed four tracks of HD running in realtime off the card in EDIUS.
Then again, Raylight can use the "yellow" mode to get a high-speed preview...
Core 2 Duo laptop, 2.00GHz, 1 GB RAM. Edius 3.61 Broadcast. Editing straight from the card. I just showed this at the BootCamp on Saturday, I quickly roughed in 3 streams of 720 and 1080 (because it can handle both resolutions on the same timeline, converting in realtime) and it flew through three streams with transitions without skipping a beat.
It can probably handle 6 streams of 1080, I haven't really figured a reason to have six streams active but if I did, it could handle it.
Barry - Is there a difference between Edius PRO and BROADCAST ? I believe PRO does not handle p2 support ? Does BROADCAST need a key/dongle? Thanks. . .