Hi Writers_Block,

When you import the hair try clicking the "Use springs reduction" checkbox under "Import as".

I find that when I use "Use vertices neighbourhood" that selecting "Distance min" and increasing the value also works. On one test I had to push the distance min all the way up to 3.5 to get it to run without memory error.

It is a program limitation and not hardware related. I can assure you that no matter how much system and or GPU RAM you have you will still get memory error when using some models.