This is an interesting question.
I must color correct about 10000 clips in the next months. And I have to rely on Vegas 11, because of its good 3D editing features.
If you must only correct a handful of clips, than it is ok to use the mouse in the color wheels. But because the color wheels are not very big and accurate it needs some time.
I am used to a hardware color correction trackball on a linear editing suite. There you can correct very fast and accurate the color.
And I was very glad to see Vegas supporting some hardware for color correction.
Or is there any other good hardware for color correction in Vegas?