Here is the secret to the universe for frame by frame advance in Sony Vegas. Are you ready? It’s sooo easy.
Above your project timeline on the upper left there is a display of some numbers. Right click that, and change the “Time Format” to “Time & Frames”. Now, the finicky mess that is Sony Vegas will let you advance frame by frame.
I’m sure it all made perfect sense in some coder’s mind, but for us professional editors, scrubbing frame by frame is vital, ever for things as simple as putting an Academy Leader on your footage, you must park on a single frame to accomplish this.
Most people that use Vegas are making wedding videos, etc. and would never understand why someone might want to advance a single frame at a time, or why audio scrubbing would be necessary.