Yes! the video sequencer has received dramatic improvements over the past years. It now shuffles or overwrites timeline content when you move a strip over another (based on a user setting), it transform-snaps to strip bounds and other elements, it auto-generates proxies so you never have to touch anything, it plays in realtime... for a full overview of improvements see the release notes : https://wiki.blender.org/wiki/Dev:Ref/Release_Notes
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