1. Smooth and wise camera work.
2. Good cutting/sync it to the music.
3. Color correction and some really easy effects like blur, dissolve, flash etc.
4. Make sure your footage fits to the music.
Thats pretty much all I did when I was making this vid.
Of course you can give your video an extra effect boost with more professional programs like AE but I use only Vegas.
Jeremy Clarkson = POWERSLIDEPOWERSLIDEPOWERSLIDEPOWERSLIDEPOWERSLIDEPOWERSLIDEPOWERSLIDEPOWERSLIDEPOWERSLIDEPOWERSLIDEPOWERSLIDEPOWERSLIDEPOWERSLIDEPOWERSLIDEPOWERSLIDEPOWERSLIDEPOWERSLIDEPOWERSLIDEPOWERSLIDEPOWERSLIDEPOWERSLIDEPOWERSLIDEPOWERSLIDEPOWERSLIDEPOWERSLIDE