If you’re going with Vegas Pro 10, then I’d recommend building a 64-bit ‘puter, at least 4 Gigs of RAM, definitely quad-core (at least), and getting an nVidia based graphics card that can do the latest version of CUDA to help offset your rendering and speed things up.
I can attest that Mike’s suggestion is perfect (and free) for getting that dropped frame look of old film footage. Of course, you can also add the standard Vegas plugin for old film to add that black and white, scratched and grainy film look along with his suggestion.