I hate to re-install software if I haven't broken it, but for some reason it broke itself and nothing I could figure out would fix it, so I reinstalled PD8 Ultra and it didn't fix it, then I applied the latest patch 8.00.3022 and it fixed it. Fortunately I didn't have to redo my projects. Actually I tried to and it seemed to work. I would delete the effect, re-add it and seemed to work until I closed and reopened and I would have the same error. The odd thing was that if I didn't try to open the effect the preview played fine, but when I went to burn I was getting Out of Memory errors or it couldn't find a source file, but that was 3/4s through the video. They burn fine now though.
So don't forget the patches after reinstalling Windows 7 Ultimate 64bit
Velocity Micro
Intel Core 2 CPU 6700 @ 2.66GHz
RAM 6GB
NVIDIA GeForce 8800 GTS v258.96
ViewSonic VX2255wm-4 dual extended display
K-Lite 32bit & 64bit
1680x1050
Windows 7 Basic background no Aero
Hitachi 400gb system dr