Tell us much more about your computer and your footage.
The Warp Stabilizer effect is extremely demanding on system resources---most notably RAM. You will have difficulty trying to stablize large and long clips on an underpowered computer.
Ahh, thanks for the quick response.
The footage is 3 minutes of short clips, about 10 seconds each, all close ups of people, hand held, most have some panning, few have zooming
I have 2 GB reserved for other applications in the preferences and 6gb available for Adobe CS5.5
Win 7 Home Premium
AMD Phenom II X6 1055T (OC 3.5)
ASUS M4A89GTD Pro/USB3
Kingston Ram 8GB DDR1333 (4 2GB Sticks)
(3) Samsung Spinpoint F3 1 TB 7200RPM
c:\ OS, Programs
d:\ Previews, Media Cache, Exports
e:\ Media, Projects
ASUS Radeon HD 5830 1GB 256 Bit GDDR5
Anything else you need to know?
Change the memory reserved for other applications to be a larger amount---say 4GB. The process that does the stabilization is considered "other" in this context.
If you have three minutes of 10second clips, I recommend stabilizing each individually. Not only will this be easier on your computer, but it also just works better, since each clip has its own specific characteristics relevant to the stabilization.