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Sorry, but 64-bit is not supported. You are on your own. Do you have a lot of items in the media bin? If so, whenever you change focus to another application and then back to Premiere Elements, all items in the media bin and the timeline are verified that they are still in the same location on your hard drives, and if so, if they have changed. And all the thumbnails are updated again. It also has to regain the memory that it gave up when it lost focus to another application.
Well is does the same thing on XP (32 bit) and on Vista it's installed under the program directory for 32 bit applications.
There are about 6 items in the media bin and yes I see your reasoning but with 8gb of memory, surely it shouldn't have to "regain the memory" I guess it depends on the size of the media items.
I tried this.
I have 3286 photos on the timeline taking up about four and one-half hours. Most photos are 1280x960. I have another video editor running (MAGIX). When I switch between the applications, it takes about two seconds before I can use PRE 7. But just after adding the photos to the timeline, it was taking about 14 seconds. Then all the thumbnails on the timeline were drawn, and after that it took only two seconds.
I have a Pentium 4, 3Ghz HyperThreading, 1 GB RAM, two hard drives. Both applications and photos are on my second hard drive. My first hard drive C has the operating system and paging file.
Richard you are with PRE4.0 and Robert you are with PRE7.0. Have you tried creating a fresh catalog and then trying the same scenario.