Here is what I did, I went and disabled all the starup programs using msconfig, restart, if the program works you have to go ahead and select the programs one by one, log out-login (or restart but it is slower) to find the culprit app.
this is in case you do not have logitech and still have the issue.
00:02.0 VGA compatible controller: Intel Corporation 82G33/G31 Express Integrated Graphics Controller (rev 02)
-->Working better in GNU/Linux than in Windows
I've read somewhere that PJ64 had a memory leak. I don't know if this was fixed in v1.5.
The sure thing is that you may be able to avoid the problem if you close any unnecessary applications.
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I'm not insane. YOU are insane... You are all insane!
I install the program, then when I start the program everytime i get the damn pop up telling me that it's failed to allocate memory. Your solution does not work. I don't want to delete MS security patches as was suggested in another thread. I don't want to do anything that compromises security. Can't the damn programmers get off their backsides and sort this out?
In that case, readiing some other threads about the problem may help you sort it out. If not, use another emulator.
PJ64 is no longer developed (and it's free) so you can't ask for support from the authors.
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I'm not insane. YOU are insane... You are all insane!