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The next thing id suggest doing is going to OPTIONS,PREFERENCES,VIDEO TAB and lowering your DYNAMIC RAM PREVIEW to 1 and your MAXIMUM NUMBER OF RENDERING THREADS TO 1.

Finally if you are still getting low memory errors, Id suggest trying a batch render if its a long edit i.e 3 minute montage full of effects....
BATCH RENDERING TUTORIAL





THESE STEPS HELPED ME ......
be sure to check out my vids on my youtube....
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---------- Post added at 10:13 AM ---------- Previous post was at 10:11 AM ----------

i made this very quick but it basically just solves some low memory issues and also makes sony vegas run a lot faster.... i hope this helps you as i remember always having issues with vegas