Hi
I am not sure exactly what you are referring to here by "keyframe". The process of deleting a section of the timeline as above (or using other methods) does not require the creation of keyframes which are a different thing entirely.
I think you might be referring to the rendering process that occurs after you have done an edit. A simple split and section removal usually only takes a few seconds and VP handles this. Note that the original clip is not actually cut, editing with VP is non destructive to your original footage. The timeline displays what one might refer to as a "running copy" Removing a section means the program has to calculate and save the position of the cuts and then recopy the thumbnails of the following section and their positions etc to those places in order to regenerate the timeline.
The speed at which this is done as shown by the green progress bar over the timeline is largely dependent on the processing speed and graphics capability of the individual PC and to a great extent also the resolution setting of the preview screen as it seems that thumbnails are smaller and faster to regenerate..
After the edit the resulting timeline (apart from now having a join) remains exactly the same resolution as it was before the section was removed. (The export resolution of your video is set when you output it and is not related to the resolution set within VP for previewing and editing.)
If you want to save the project either before or after the edit (or both) you can simply right click the File button and select Save Project File As and then use a new name each time. This will create a .vpj file and takes just a second or two. The resulting .vpj file is a text file that VP can use to recreate your work if needed.
Hope this helps. If not please come back.
Nat