Adobe Premiere Or Adobe After Effects?

I have been using Sony Vegas Pro 8, I can do well with it, but it doesnt seem to have all the effects that other programs seem to offer.
I know it wont be easy to learn, but I learned photoshop and can do amazing things in it now, as well as Sony Vegas. Whats the difference between Premiere and After Effects?
I’m looking something more for cool special effects, and easier learn curve. I really dislike Sony Vegas rendering time, I have a very powerful system, and it gives me about 7-8 hours to render a 1280×720 video thats 40 seconds.
My system..
Video card: Nvidia GTX 295
Motherboard: EVGA x58 X3 SLI
Processor: Intel Core i7 920 @ 2.66GHz
RAM: 6GIGs of DDR3 @ 1600MHz

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