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8gb ram isn't much these days but I don't think that is what caused your problem.
How much free space on your hard drives do you have?
I have done pano's on my laptop too with 8gb ram, without this problem with 10x the number of images, but I used two external hard drives to create more temp space - it wasn't fast but it did deliver a pano the following morning.
Though Photoshop has a reasonable stitcher in PhotoMerge it's its blender that is really good.
There are more efficient pano programs even Microsoft ICE which is free as well as Hugin are very good.
The two preferred are PTGui and AutopanoPro/Giga, to me it's also the order of which is better (for me at least)
Panorama making is rather taxing on your system resources
Look up PTGUI Speedtest and that will give you an idea of where your system sits
All the best
Henrik, I believe this is what you requested:: Windows 7 prem.; Intel core i5 cpu; 650 @ 3.2 GHZ; 8 gig. memory. Thank you for your interest. Jim