Vegas works for me, only because my needs are simple, but it's a few hundred too IIRC. Another freebie you could try is HitFilm Express, but it's a little bit more of a learning curve - I tried most of the free stuff out there looking for a Vegas replacement, and HitFilm came the closest.
Also checkout Lightworks for their free version, but it's not an easy program to get up and running on anymore last I checked.
I love Vegas. It can be a lot of fun. It can also be a pain at times, but that's part of it. I do a lot of layering of video and audio tracks so a brute of a video card loaded up with ram is a plus.
One of my favorite pieces I did in Vegas was a 30 sec TV commercial for a dropzone in Panama City to be aired during spring break several years ago. Hated the name of the business, but then the owner wasn't known for being too bright. The place has since been sold, renamed, and became a successful business.
The picture borders in this actually rotate out 3 times, but most never notice because of the action in the center PIP. All footage except for the B&W intro was either shot by me or I'm actually in it. And all the pieces of footage used were shot in Georgia, Tennessee, and a little place called Borodyanka that is just west of Kyiv, Ukraine. Talk about some sketchy aircraft, glad I didn't land in any of them. When the plane mechanic smells like vodka over the smell of his stale cigar it might be time to be worried.
You'll also notice that the timing of several cymbal hits, guitar chords, etc... match up perfectly with actions and fades going on in the main video. That was the biggest trick to the whole project, trying to make skydiving and music seem in sync with one another.
For color and lighting correction, Vegas is pretty good at that too. This is the "Eruption" solo from an Atomic Punks show at the Saenger Theatre in Mobile that I shot. I actually had to shoot through spotlight "haze" and between the camera zoom and Vegas it cleaned up pretty good.