I doubt that you are running into a low RAM situation, unless you are loading a number of huge sample libraries in your tracks. RAM and CPU resources are two different issues, and latency and drivers are another consideration.
Open the Windows Task Manager, switch to performance tab, and observe CPU and Memory resources before and after opening CbB.
If you still see wiggle room there after opening your project, your problems likely are elsewhere, like what Zargg suggested regarding drivers and latency. Since you mention that the audio engine is dropping out, that is the most likely problem, unless you are maxing your CPU out.
In case it may be a plug-in, you can open the project in "safe mode" to rule that out.
From Scott Garrigus, author of the Sonar Power books:
http://www.digifreq.com/digifreq/tip.asp?ID=10 SONAR provides a similar feature (also called Safe Mode) for use when opening project files. Like any computer data, project files can become corrupt occasionally, preventing you from opening them. This corruption can be caused by computer resource limitations or bad DirectX (audio effect), MFX (MIDI effect), or DXi (DirectX Instrument) plug-ins. (I'll talk more about these plug-ins in Chapter 11, "Exploring Effects.") Using Safe Mode, SONAR loads a project file with only the Track view (in its default layout) open. If you had any other open views in the project, they will not open in Safe Mode. You are also prompted for each and every plug-in that you have assigned to your tracks in the project. This feature lets you determine whether a particular plug-in is preventing you from opening your project. Here is how Safe Mode works:
1. When opening a project using one of the methods described earlier, hold down the Shift key on your computer keyboard. This tells SONAR to open the project in Safe Mode and displays the File Open - Safe Mode dialog box.
2. If your project contains any plug-ins assigned to your tracks, the Safe Mode dialog box will ask you whether you want to load the plug-ins. You have four choices: Yes, Yes to All, No, and No to All. Choosing Yes will load the currently displayed plug-in. Choosing No will not load the currently displayed plug-in. Choosing Yes to All will close the dialog box and load all plug-ins. Choosing No to All will close the dialog box and open the project without any plug-ins.