To the best of my knowledge render preview is a session only function that enables the preview player to display a selected range "pre-rendered" as opposed to processing edits in real time. (I know there are also instances of "auto-rendering" in lower spec systems, which can be very irritating)
PD appears to preview in real time by default, and therefore any enhancements, effects, adjustments etc place additional strain on the preview player and may result in choppy playback (which will depend entirely on the system specs).
In the same way that proxy or shadow files were commonly used, preview render may also be useful in some circumstances. I can't recall if or where any rendered files are located but the main function is to enable a smoother preview playback.
It can easily be tested (depending on system specs) by applying multiple enhancements to say 5 or 10 timelines, selecting a range, and then rendering the preview and previewing in full HD.
The difference in smooth playback is usually obvious between the pre-rendered range and the rest. I believe it's main function is to make playback of complex timelines "easier". Personally, I don't use it - I tend to produce the section instead but others may find it useful.
Cheers
Adrian
Life is really simple, but we insist on making it complicated. (see below)
Confucius
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