Adobe Premiere is easier to use for someone new to video editing and somewhat cheaper. But Vegas has more functionality, slightly more expensive and slightly harder to master, personally though? I use Vegas you'll just have to do a lot of online tutorials before being able to go Solo on it.
The 'Pro' in Premiere Pro should give away its target audience. Vegas is more aimed at consumers, so it's easier to get into and can be a bit more intuitive to use. Premiere is by far the most powerful though, especially if you couple it with After Effects (and to a lesser extent, Encore, OnLocation, Illustrator and Photoshop - if you can afford all that lot ). FCP is the industry standard, but since it's Mac only, that's a bit of a non-starter if you're a Windows user.
(Original post by Scott1541)
I prefer Sony Vegas over Premiere pro but I have used both. Vegas is much easier to use and I find the render quality is better that premiere even when they are set on the same settings.
I got both for free from my mate the internet.
Premiere doesn't render files, that's done by Adobe Media Encoder.