Insufficient memory to meet the expected demands of an operation, and this system is likely to never satisfy this request ...

Insufficient memory to meet the expected demands of an operation, and this system is likely to never satisfy this request with the current GC heap segment sizes.  If this is a 32 bit system, consider booting in 3 GB mode, or using a config file to tweak the segment sizes for the CLR's GC large object heap and normal object heap.