dividing large multitrack file in studio 7

Greetings all!
  I have several large (1-3gb) 8 channel live recordings which I would like to split into separate songs. I used to use Adobe Audition and could simply drag across all tracks to select a song then right-click and save as... but with xp's memory restraints I had trouble with large files/projects. So, I upgraded my rig to win7 to utilize my 4 gig of ram but unfortunately, Audition won't run in win7.
 I bought Home Studio 7 and imported from the recorder (Zoom R16). The best I can figure, the closest I can find to what I want to do is splitting and exporting so I put markers at the beginning and end of each song for time reference and used the select by times and exported but the exported file was the entire original file.
What is the simplest way to save songs independently?
Thanks,
Willy

Is there really any difference in memory usage between XP and W7? I've always thought any 32 bit system can utilize approximately 3.3 Gb of RAM, not more, not less, be it Vista or XP or W7. At least my XP 32 bit does that.
If your W7 is 64 bit, it can utilize more IF your Home Studio is 64 bit as well. If you only have 4 Gb of RAM, that 0,7 Gb difference doesn't matter.
 
Exporting is not the solution anyway. It's for exporting projects and tracks to wav or whatever. Allthough, selecting "Tracks" as the export source you get each track as a separate wav-file, but bringing them back to SONAR one by one then takes much extra work.
 
To start with, I don't know if Home Studio has "Per Project Audio Folders" feature. The following works best when that is selected. 
 
Do just like you begun with, then either:
- delete everything except for the one desired song and save under a new name in a new folder with "copy audio" option selected,
- or simply copy the tracks/song and paste them in a new project.
Then you need to do the same saving under new name in a new folder.
 
Your comment on memory restraints puzzles me a little. In SONAR, if you select and copy, say, all the tracks for one song in your project, the copied data does not include all the actual wav-files, hundreds of megabytes of data, but the song structure and the links to the audio folder, where the audio remains untouched untill you save under a new name, in a new location with "Copy audio with project" selected.

Ya, I have Sonar  7 and yes you can have separate Project folders for individual songs so to say.
Well, almost right. You highlighted the part of the track for the song, make additional tracks to cover how many tracks you highlighted in total - so if you had 8 tracks for a song, you make 8 new tracks and set up the pans and volume exactly like the original tracks or change them if you want I suppose. You split the track (one at a time perhaps - maybe all 8 - I did it with one just to try it) and you copy the track, when you use Edit menu option to Paste the highlighted part of the track, you use the Advance Options on Paste and put it on the new empty track starting at that location (can do all 8 tracks at once if you copy all of them in Copy Edit Menu option.
Now when exporting, and you have the one song and listened to it and muted all the other tracks when you export you have Source Category - on left hand side of saving like as a Wave file (*.Wav file) and in that you select - Tracks - then you mark which tracks you want to Export into whatever you want to name the file and Export.
Let me check to make sure. Yes, Sonar will automatically mark all the tracks to export. You have to take off the highlights of all the tracks, highlight the tracks you want (and make sure to mark at least one or Sonar 7 will leave the first track in the list of tracks highlighted, but you highlight one of the tracks at least to start off, then unmark the first track and and highlight the rest of the tracks wanted, then Sonar 7 will only export the tracks that were highlighted.
 
So, copy the highlighted parts of the tracks, and Paste to new tracks using Advanced Options (do not link to original clips) (do not blend with original clips - but overwrite new from old (nothing in those empty tracks though so you do not want them associated with the original clips) and where you want to Paste them (starting measure - can always be one and Track number to start on - so if new empty tracks start at track 25 - then you start pasting all the tracks starting with Track 25 on up to say with 8 tracks - Track 33  if I can figure correctly, mark them for Export by selecting in Source Category - Tracks and export to wave file whatever kind of file you want.
 
If you want then after Export and all those tracks are still there, you can Undo all you did, and select the next portion of the tracks by Edit Start Here - End Here - Now Times, and copy and paste to the new tracks again, check the Pans and the Volume (gains) and anything to make sure it is all the same and the Output of each track - say Master and do the same thing over again on the Export selecting the Tracks you want to Export.
 
Undo again until you have the original tracks you started out with, mark the next song via Edit Menu Options, repeat and rinse, and name all the songs differently of course and you will have all the songs separate.
 
If you want to work further into any of that, then make new Projects for each song, and Import the Wave files back into Sonar if any additional work is to be done.  All songs will be separated, new Project folders for each song, and then whatever you do that all will be Separated and done.
 
If this does not quite make any sense, think about it, and look at what you are Exporting by highlighting the tracks you pasted to and only those for Export.