About the editing process

1. My first time editing video.
2. Edited on a trial download of Sony Vegas Pro 8.0 (chosen for its multicamera support) on a Windows XP Core 2 Quad computer with 4GB of memory.
3. Part 1 was edited in about 12-20 hours of work from about Jan 21, 3 A.M. until about Jan 23, 10 A.M.; part 2 and 3 were edited over the next week, requiring about 10 hours each.
4. I edited the concert footage in order, from beginning to end. In the first pass, I made camera choices and got the edit locations correct; for part 2 and 3, the first pass took about 8 hours. In the second pass, I altered a few camera choices and cropped and stabilized the images (see next point).
5. Some footage was stabilized manually, by zooming the image in a bit and animating pans to track the camera shake. This was really tedious work, and I only did it for the most egregious shots, and did it less towards the end. Here's a quick YouTube demo I made illustrating it, although it's kind of hard to see it except in the side-by-side examples.
6. For editing, the original footage was converted to XviD avi files with ffmpeg, and reduced to 720p to speed-up editing. Using Vegas's "replace media" function, the final render was rendered from 1280p files (not the original .mov files, which Vegas can't read, but 1080p files generated from ffmpeg). I wrote up a little quick summary for ffmpeg for future reference for myself and for others, because ffmpeg is trivial to use for these purposes but nearly impossible to figure out. (In hindsight I probably should have mostly used VBR instead of CBR encoding)