DaVinci Resolve Lite is one of the best color grading tools and now available as free Lite version. It works so far up to a Full HD resolution of 1920 x 1080 but in most times not directly with camera files. Sony Vegas Pro does work directly with most camera files but Version 11 an lower does not export AAF and EDL files which can be read by DaVinci Resolve. Hence an easy workflow is almost not possible with implemented tools from both sites.
With a tool named EDL_Convert and the application of two Vegas scripts it's possible to realize an effective and efficient Workflow. Rendered DNxHD .mov files will not be endless in space consumtion as they will be used as clips were cut in Vegas.
Pros for this Workflow:
A) Rewrapping - saves space on Hard Drive
B) Rewrapping - reduces rendering time
C) Can be used with lower Versions of Sony Vegas Pro
D) Same information as .XML route
For detailed discussion goto personal-view.com/talks/discussion/6238/edl_convert-workflow-developement-for-sony-vegas-pro-davinci-resolve-#Item_9