Re: Sony Vegas Pro 9.0

I have never used the studio version. Always used the 'Pro' version. But I would think that it would be very much the same.
To change the opacity of a top track to let an underlying track show through place your curser at the topf the event in the track and pull down the opacity envelope. You can also use the opacity slider in the track header.

You never used titles in Studio? Its the same. Use generated media to make the title with transparent background. I believe its the first example in the templates. Then position it where you want it, like at the bottom. Research the term 'lower thirds' for what you are talking about. You can place the title on track one, the lower third on the second track behind the title and your video background on the third track.