Here's a few suggestions:

1. If you're running XP and only have 512 megs of RAM, you should seriously consider upgrading. RAM isn't that expensive and 512 simply isn't enough to run anything these days. I can't imagine running less than a gig.
2. Shut down unnecessary programs. In XP, press CTRL ...

To Strail and the Dev/Test team:

I was disappointed to learn about the lack of new fighters. Then I thought... how selfish. So I went on and explored.

Freelancer is more than combat. It's exploration, trade, negotiation, strategy. This mod at first overwhelmed me, as the first system I decided to ...

Don't know if it's a bug or not, but after 2 hours of playing, Freelancer is using 1-2 gigs of RAM.  Quite a resource monger.

Love the Mod... bringing out the explorer in me.