Error: out of video memory

My videocard - geforce gt 440.
link text

I’ve created empty project with starter content. After 3-5 min looking at it( I didn’t do anything, just playing with camera)
there was an error message: “Out of Video Memory try to allocate render resource”.
I know that my videocard, cpu, ram are below minimum requirements, but i’ve never had a problem like this with previous versions of engine. All my drivers are up-to-date.

This is exaclty what mine does. I’m out of ideas, I’ve tried bassically everything.