Mercalli does a great job and DeShaker does too. I used DeShaker all the time before I bought Mercalli. I just used it stand-alone in VirtualDub. I never used the automated script for it from Vegas.
I’m sure there are circumstances that DeShaker handles better and others that Mercalli handles better. I also have Magic Bullet Steady which works really well too (it’s an After Effects plug-in). You can’t go wrong with any of them. I’ll tell you that I bought the pro version of Mercalli and I have never used the advanced interface. Usually the presets are fine for the kind of shake that I usually need to remove so the standard $50 version should be adequate in most circumstances. For $50 you can’t go wrong… it’s less than tank of gas for an SUV. 😉
I haven’t a clue how to fix the codec problem. If a re-install of Vegas doesn’t fix it then you need to call Sony technical support. The template should be there after a re-install. Good Luck,
~jr
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