Movie Edit Pro offers more templates, footage, effects, and more than Vegas Movie Studio. However, Vegas Movie Studio does have its own unique features, which can be seen from the more number of VMS users than MEP on Youtube.
@Max-Laing I agree with you. When the 'upgrade" first appeared, I knew when I saw the screen shots that it was MEP because I have it too. And then the flood of users that upgraded without a thought started to voice their dismay over it because it wasn't an upgrade but a lateral to another editing software. Mind you, MEP/MS isn't a bad editor at all, but it's not VMS like in it's appearance and usage. And it is still listed under Vegas, which to me, it should not be since it has nothing to do with Vegas in either look, feel, or support.
For those wishing to stay within Vegas, there is an upgrade to Vegas Pro 19 Edit for $89 USD until March 1st. It includes Boris FX BCC Optical Diffusion 2021.5 Unit.
Vegas Pro "should" work with all your past projects. One way to find out is to download the demo. It has the "look and feel" of VMS but with a lot more features. A "LOT" more.
@Nalmcruto it really doesn't matter if any software offers "more", it doesn't edit the same way, you can't open past projects and now have to keep the "old" VMS installed if you want to re-edit/use past projects. This was advertised as an "upgrade" and it clearly wasn't, and that definitely was deceptive on Magix part. There was no "fine print disclaimer" detailing that it was a renamed MEP and that support of previous projects would be spotting at best.