[Nick Braun] "Is there an easy way to tell Vegas to use the settings of the source content?"
There sure is.
Go File > Properties and click on the Match Media Settings icon(top right, looks like a folder).
Browse to the folder where the file(s) is/are located, click on one of them and click Open.
This brings you back to the Properties menu.
Click OK and your project properties now match your source video.
