Is there any chance that there could be more choice than just 'ultra high, high, medium...' etc. For my project there's currently a big difference between medium and high. Medium is only using ~6 GB of ram, and high is using close to 15. That means I tend to run in medium to be on the safe side of not hitting the limit. If I could control the image compression I could select a setting in between there and use a more suitable amount of memory.
Cheers!
Alex