In July of 2007, Sony will also issue an update to its consumer editing software, Vegas Movie Studio Platinum Edition 8, with support for the AVCHD format, which will allow users to edit files in the new AVCHD camcorder recording format based on the MPEG-4 AVC/H.264 codec for video compression and Dolby® digital audio.
They make it sound like you'll be able to download an update.
But it's really a brand new version (version 8).
The current version sells for $119.95
Jerry Jones