I have been getting the same error lately. When death-levelling the charr in presearing (it happens when I have a lot of them) and the game is left running for more than 7 or so hours, it gives me out of memory error. Now, mind you, I have 3 gigs of RAM and when the crash occurs GW is barely using a half of that, with memory diagnostics reporting quite a bit of RAM free for use. Pagefile is automatic with its minimum set to 3.3 GB or so.
Mind you, I've been delevelling the charr about half a year ago before giving up (not for long, as you can see

) without any problems. So it might be some bug that creeped in in between.
The error occurs both when running the game in windowed and full screen mode as well as leaving it minimised, and it is not the 10-hour no action cut-off either.
Annoying error, indeed, but manageable for now. I would prefer to be able to delevel for longer, but as is I will have to manage.
P.S. For those who wonder why the hell would anyone death level the charr, lookup Legendary Defender of Ascalon character title
