I am having a hard time finding the options for creating a time lapse of sunrises and sunsets. The only settings I have found let me increase the speed by 50%. Does anyone know anything different?
Without re rendering footage, in vegas you have the potential to speed up footage by 12x. To do this first click on the end of the clip while holding down "control" on the keyboard. Move the end of the clip as far left as it will let you. AT this point you have speed up the footage 4x. you can then right click the event and press "insert velocity envelope". This envelope can go all the way up to 300%.
If you need to speed up even more, you can export your footage as a JPEG still image sequence (a script in Vegas 5), with exporting, say every 24th frame. Then you import the stills back which creates a new clip.
I would then immediately render this to AVI - takes less space than the JPEG files combined, and I think there is a bug in Vegas where if you move the image files, your image sequence clip gets off-line and you'll get a black event anywhere you used it. If you render it as AVI it's as if you recorded the time lapse with your DVX.
The Time Bandit tool for Vegas will also let you speed up more than 12 times without having to render more than once or export footage as stills. It will speed up the video right on the timeline.