Folks, the bottleneck was not the cpu, it was the software. I tried out vegas pro 9 64-bit…. with nearly identical parameter values, the 64-bit version drained my computer resources… after some tweaking, I was able to have vegas consume 11gigs of memory, and the rendering was >1X !!! Five minute video rendered in 4 min.
In regards to over-pricing accessories, keep in mind that in order for the silly warranty to work, Dell will give you headaches with third-party purchases… I know they should not (in fact, it is illegal for them to do so unless they can prove that the third-party product caused the problem), I have had to deal with this sort of issue time and time again. The price of additional memory from Dell is not just for the memory, but rather, for the memory and warranty coverage…. I have no problem dropping an extra 3% to make sure that the warranty is entirely trouble free. Then again, I fully understand why you would want to purchase it third party, if I hada little exta time on my hands, that is exactly what I would be doing.
Thanks for the input everyone, and please, if you bought a nice box, give the 64-bit vegas a try!
Always Learning!