If you use only one camera, then there are lots of good choices, even at the low end. At the mid-range, Vegas excels at synchronizing audio and videos from different sources so that they can be superimposed. Adjustments to transparency can be made while a video is playing.
I videod a show where kids danced to and also sang to "1000 miles". I was given a cassette tape of their singing and videod the dancing. Unfortunately, due to tape speed problems, the tape audio was longer than the video performance. Vegas, made by the same company that developed Sound Forge and ACID, allowed me to adjust the length of the audio to fit the video with no pitch problems.
With Premiere 6.5 and below, real-time adjustments were not practical. I have found the human-user-interface on ULEAD products to be inferior to most other products, but it depends on what you are used to. The rec.video.desktop newsgroup is a good place for information on this topic.
[This message has been edited by Clif Anderson (edited 09-19-2003).]