Could this be the same issue that I’m having with Sony Vegas Pro 11 (Build 425 – Win 7 64bit) and new 1080p files shot on the iPhone 4s? They seem to import OK into a fresh project … images are on the files in Project Media and drag to the timeline to the right length, and images even show up on the video track. But no video plays. Nor does audio … most of the time … although sometimes it will randomly play the audio.