When you render, the ENTIRE MODEL is imaged and rendered. Think about it - where DO those shadows from things not in the shot come from? That is where the memory goes, not so much in "putting up" the image of the actual render boundaries.
You've cleverly used the marquee-half-the-project-at-a-time method to eliminate corrupt elements as a possible memory hole, so it means that you've got too many polygons in the rendering.
Can you try simpler lighting? This could reduce the memory needs.
Dwight Atkinson