Are you using beta 7 with the disk caching?
Does it render ok without raytracing? Asking for ambient occlusion and raytraced reflection with complex geometry in 2GB of RAM plus all the overhead processes might be asking a little to much...
Not that it helps, but RAM pricing is now down below $5usd per GB.
That was beta 6, but with RAM cache (disk cache didn't work in beta 6 for me at all). I'll try the 32bit beta 7 over the weekend. Actually the raytraced reflection crash surprised me. I did not enable it on purpose, just clicked on a shader preset to make Genesis "clothed". I generally never noticed raytraced reflection add that much overhead before. But I guess it saw the curves and choked on them.
Actually I have very few background processes running on that machine, it's been optimised to oblivion and back. It's interesting that Paint.NET doesn't really crash on me even when I'm editing a multilayered 4096x4096 texture and it's eating over a gig of RAM. It just gets slooow.
And thanks for the RAM suggestion, but where I live (it's not a "civilized" country), even the "normal" desktop RAM is pricier than that. But the issue is not the price actually, it's finding the precise type of RAM to go into a Toshiba Satellite A200 laptop here, and then finding a few days off to install 64bit Windows and all the software...
Anyway, here's what I managed to come up with at work tonight... Beta 7, trying suggestions on the same scene. It's a 64bit desktop setup with 8 GB RAM, so surface AO and area lights (oh boy do they work differently in DS4.5!) played together just fine.
Click thumbnail to see full-size image