Apparently Vegas 8.0b has major bugs when it tries to handle large still pictures. I have been integrating high-def 1920x1080x32 .m2t files (captured with the built in hi-def capture from my SONY HDR-HC3 high-def camcorder. I also have a Nikon D300 and tried integrating pictures up to and greater than 10 megapixels. This caused multiple crashes at different points while rendering.
My fix:
I used Photoshop to reduce the file size to files less than 5 MB. I also divided the project up into segments. After rendering the segments, I then assembled the segments and rendered that into the final project.
This appears to be working. There are MAJOR problems in 8.0b that need to be fixed related to hi-def capture 1920x1080x32 .m2t files and large .jpg files (possibly other file types .png, etc.)