I've been waiting for MBL to become available for Sony Vegas, so now that it's here, I took it for a spin.
This is a Canon HG10 + Letus35 Mini + Canon EF 24mm f/2.8... all handheld. Short clips graded differently in MBL.
Not the cheapest piece of software I've ever come across, but I really like how it works... Having worked with Photoshop before, this is not all that different to work with. It really lets you change the look of things...
See this tutorial for more info:
UPDATE: I have now uploaded the raw footage version of this video. See it here: vimeo.com/1225769
UPDATE (Feb. 6th, 2009):
1) First clip is 'basic warm' with an added gradient on the sky (to darken it).
2) Second clip was 'bronze aggressive' with no changes.
3) Third clip was 'warm bird' with an added gradient on the sky (so that it doesn't burn out / get overexposed).
4) Fourth clip was 'infusion subtle' with 'anamorphic flare' turned down a bit.
5) Fifth clip was 'blue bleach' with an added gradient in the top right corner to avoid over exposing the sky.
6) Sixth clip was 'tropico wash' with an added gradient on the sky to avoid over exposure.
7) Last clip was 'benumbed' with no changes.