From what I understand the new version of Vegas has "color Match". Will this be of benifit if I am trying to match footage from the a Canon 60d and Canon xha1. I'm trying to match tghe dslr footage. If not, whats the best way to do this?

Yes, it can be used for that purpose. Trick is finding representative shots from each camera for your match.

Chris do you think that using the color match is he best way to do this? I'm running the trial version of 12 and have not experimented withthe option. This is the first time I had to match dslr (60d) with my XHA1.

When I have tried to match DSLR and Sony FX 1 or Canon HDV, I think color match might work okay for that, but then I think you still have to add some tweeking. For instance, in any given scene, I have always tried to match whites first. Most of the time that means using Vegas white balance on each of the clips to get a common white object to match. Sometimes, you need to preshoot a white card with each camera. From there, something like color match might be good, but without it, I then go to levels to try to get things to match up. Seems to work.

To me, color match has more of a benefit to get a look from a color graded photo or color graded clip that you want to get you new clips to match. It would get you close, but you still have to tweek a bit.