I too thought that there was something wrong with VS 10+, so I've been following the procedures outlined. The reality, however, is that you'll need a faster computer to use VS10+ as you please.
I had a dual-Athlon MP 1800+ with 1GB ram, and it would take 8 hours to render 2 hours of MiniDV AVI to 70% quality, 4700Kbs constant, 29.97fps, MPEG audio 128Kbs, lower-frame. The workaround was to capture directly to MPEG, auto scene-detect, then render using smartrender. This used to be quick in VS9, but apparently smartrender no longer works in VS10 so back to the 8 hours! The workaround by jchunter requires to export to a file first, then start a new project and manually add scenes (pain in butt), etc.
Guess what? I built the computer outlined in Tom's Hardware:
http://www.tomshardware.com/2006/05/10/ ... ghz_cores/
My new system, comprised of the 64-bit Dual-Core Pentium D 805, 2GB G. Skill RAM, Asus P5DW2-E Premium, Nvidia 7600GS, 300GB Western Digital 3Gb/s SATA, Kingwin water cooling, and case with led's and fans cost $1,088 including $40 shipping on Newegg (I recycled my Maddog 3 format DVD burner, floppy drive, keyboard, mouse and monitor).
On the new PC, I pulled 2 hours of MiniDV AVI, set my scenes using the timeline DVD-scene marker, and used "create-disk" to burn to DVD directly. I set it to lower-frame, 4:3, 100% quality, 4700Kbs constant, MPEG audio 256Kbs and the disk was complete in 1 hour and 20 minutes, and it works! No workarounds are necessary!
Also, if I write 1 hour of MiniDV AVI to an MPEG file at lower-frame, 4:3, 100% quality, 8000Kbs constant, MPEG audio 256Kbs, it only takes 30 minutes!
Stop wasting time as I did. Just get a faster computer and get it over with. The minimum requirements listed by Ulead are B.S.! Adobe Premier Elements won't even install unless you have SSE3 instructions, and they took some beating for it, but the reality is that the application is unusable without it (which is sort of what happened to me with VS10+).