[Chris Jones] “My RAM is a bit low though. Only 8 gigs. “
FCP7 is a 32bit app and can only take advantage of 4GB of RAM. The additional RAM will help if you have other apps open at the same time (Mail, Safari, Motion, After Effects, etc.). But as far as FCP is concerned it can only utilize 4GB.
As for your problem my first idea is how full is the hard drive where the media resides? More than half full can result in dropped frames. Secondly, how is the drive connected (internal, Firewire, USB, eSata)? Finally, is the hard drive part of a RAID enclosure or is it just a stand alone drive. While ProRes(LT) is a small data rate codec, the best way to handle any video is with a RAID setup. It guarantees the best read/write speeds compared to a single drive.
Ryan Holmes
http://www.ryanholmes.me
vimeo.com/ryanholmes