I have sony vegas pro 9, I also had 11 but I'm more used to 9 (not many differences anyways)
I used it to edit a lot of gaming montages, and I use it for my real life videos too. It has a lot of simple effects but if you use them right it can be effective. A lot of people I know use it to make montages, some had after effects as well...but all in all vegas does a good job. Besides, you don't want to overedit your montages anyways