What is better mode of transportation from Nha Trang to SaiGon? I 'd choose train due to the sceneries along the way and from what you guys know, is it worth it? Or should I fly as I need all the time due to the tight schedule I will be on. I am unsure how long the train ride would take but I guess it will be between 8 - 10 hours?

Your Q is Da Nang - Sai Gon, but your post is Nha Trang - Sai Gon. Btw, flight Da Nang - Sai Gon takes one hour, train would take approx 14-15 hours. As for Nha Trang - Sai Gon there is a fast train (private company) along with government train.

Ooops, I meant Nha Trang to Sai Gon.
Thanks Hong Ha, so do you think the sceneries between Nha Trang - Saigon are worth it to go via train or should I fly instead to save time?
See www.seat61.com/Vietnam.htm</a> for train times and info.
Flying will take 4-5 hours including check-ins and getting to and from airports. Train is an experience, cheaper, less hassle. Are you really in such a rush it makes a difference whether it's 7 hours or 4 hours? Is this supposed to be a holiday?!

If there's an overnight train try that, it'll save you a night paying for accomodation when you'd be sleeping anyway. Good laugh as well.
Jumper
A lot of the scenery south of Nha Trang is less than spectacular, so you're not missing anything amazing by not taking the train - it gets good to the north of Nha Trang. If time is short, fly.
Note that if you fly Nha Trang - Sai Gon, the airport is Cam Ranh, about 40km from Nha Trang.