It's the 8.02b update that is doing it. I un-installed, ran CC cleaner, then re-installed from DVD. I no longer got the error. Then I applied the 8.02b update, and the error returned. So the "patch" is buggy, I guess. I normally think of "Sony" as being high-quality. I guess I will reinstall again and not apply the patch.
You are doing right in thinking of Sony Vegas as High Quality.
I had VMS -incl. the 8.0b update- since it was called Video Factory and never experienced any problems coming from it.
I have seen the "Memory could not be read" issue on my machine, but it turned out to be a problem in the Microsoft .NET software.
Please check, that you have installed the very latest version hereof.