fcp3-project doesn't open

Using fcp3 on G4(450mhz) One fine morning the project doesn't open. Says `error 25' or `out of memory' or `general error' or `not enough handles', `could not open handler - system memory is probably very low'. FCP usually quits too. But if i first open smaller projects that share the same media as this larger project, the larger project usually opens! Similarly, while rendering - `render all' says `out of memory' but if individual clips are selected it works. The actual memory profile is fine: disk cache 8160k, virtual memory is off, built in memory is 512 mb. FCP memory requirements are set to 412000k. Am working offlineRTpal(photo jpeg) now but have to go online very soon. Really need help.

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