Generally speaking, effects (fade/etc) are done via hardware, for live production work --- not software. For example, I've seen this setup:
- Two Mac laptops, with what appeared to be Final Cut Pro on Mac A, and some sort of video asset manager for Mac B.
- Mac B had pre-recorded clips, shown on the screen in the room during the event.
- Hardware video mixer (with effects). Hardware audio mixer.
- Live camera.
- Camera and Mac B into mixers
- Mixer into distribution amp, for multiple output - 4 total
- (1) Mac A recording entire production, for immediate processing and streaming conversion upload minutes after event ended
- (2) DVD recorder as backup recording to Mac A.
- (3) S-VHS as backup to DVD
- (4) Big screen above speaker so those in the back of the room could also see.
That was a single roller cart setup, used by a large church. Inexpensive, rather easy to put together, two simultaneous operators. (One monitored/mixed the video, one assisted in video and managed the audio mixers.)
Broadcast production can get quite a bit more complicated.
For example, a Tricaster Extreme:
http://www.newtek.com/tricaster/tric...850extreme.php
Only $38.000 !!!
It's not as easy as just having some software.There's a lot of hardware required, too.
And you're easily looking at a budget well into the thousands, even if you go the cheap/used route to acquire everything.
You also have to pre-organize all the assets. Those DVD video clips, for example, need to be pre-loaded and ready to go. This means ripping the video from the discs, and possibly converting to match the required specs of the asset manager. MPEG decoding often has a decode delay, and such a lag may not be acceptable for live needs. At least not a MPEG-PS used on DVD, MPEG-TS may be different.
I don't do any work like this, but I've observed it, and I generally understand all the gear/process in use.
If college courses weren't so expensive, I'd take a live production class for fun sometime. This isn't really the kind of thing that can easily be taught from a book, web pages/guides, etc.