[Andy Birkinshaw]

i found a solution to this problem by accident….

i had a trial copy of vegas which expired, when i re-installed it, this problem started.
i uninstalled vegas, deleted all vegas folders, (including the one in the sony setup directory) and then cleaned the directory using registry mechanic.
i also disassociated the m2t file type (go to: my computer/tools/folder options/file types) the m2t files were associated with quicktime for some reason.
after all this, i re-installed vegas, and now everything works fine…

try it out

hope it works for you.

andy