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"Memory" is a very broad thing. Most think of RAM, and you have a ton, but there can be so much more to it.
I'd start with this ARTICLE, and work down. Below that general checklist, are many links, with some memory-specific articles.
Possibly one reason that the Quadro made a difference was the newer driver that you likely installed. The powers of the Quadro are lost on PrE, though they are great cards. I have one too.
Two things missing from your computer's specs. are the I/O sub-system, and then the Windows Virtual Memory (Page File). The linked articles go into those a bit more, but if you could post the details of each, they might be useful.
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Often out of memory messages are related to your source video and that state of your timeline.
What type of camcorder is your video coming from and how did you get it into your computer? Which project settings did you choose when you set up your Premiere Elements project?
If your project settings match your source video, you will see no red lines above your clips until you add effects to them. Is that the case in your project?
It's also important -- particularly with hi-def -- that you render your project whenever you see red lines above your clips on the timeline by pressing the Enter key. (The red lines will turn green.) No matter how powerful your computer, the program will run out of memory if there are too many red lines above your timline (an indication that the program is running the project as a soft render).
Do you render your project whenever you see a red line above your clips?
Bill and Steve- first off thank you both for taking the time to reply to my problem. Steve I will now render on a regular basis. Bill what you sent me was very informative and I'll admit there were portions of it that i didn't understand and need to look closer but I did do some disk ceanups etc. I tried many different things trying to figure out what was going on here. It just didn't make any sense that I would be out of memory. And things were working fine up till a few days ago. Anyway, there was some multiple titles on video tracks 2 and 3 that I though might be causing the hang-ups so I eliminated that and tried to save again.
I walked away figuring it would take several hours to save this 14 min. video. When I returned I had a new error message- "If writing to a remote page file location make sure the target location is available" What! I checked and sure enough the drive I was saving to was dead ( an external USB2 disk drive, 7200 rpm about 60% free) Anyway I plugged in a new lacie USB3 drive and the video rendered and saved ( faster then ever!) Tried saving another video and everything was smooth again and fast! So it seems that somehow this drive was failing or slowing down over the last few days?? and that was causing the problem? (but the error message - "windows media is out of memory" was deceiving). Now that I think about it maybe the disk cleanup I performed over the weekend pushed the drive over the edge? anyway what a relief - but of course I didn't back the drive up on a regular basis so who knows what I lost! so what I learned is keep the disks clean and back-up often. Thanks again.
Glad to hear the good news, but sorry that an external died.
In a perfect world, every error message would be a link to a full explanation of exactly where, and why, something threw it. This would be for the OS, and ALL programs. The linked screen would give all details, and offer suggestions for how to fix everything. No more "A Driver Cause The Problem," with no hint of WHICH driver the message refers to. It would pont to the exact driver, with a link to the provider's Web site. Hey, I can dream, can't I? Perhaps in Win10-256, and with PrE 20?????
How about an error message to the effect of, "You have a 2 Frame gap in your Video at 00;09;01;25. If you fix that, all will be good?"