Hi there SN666, the problem was due to a fake Sony memory stick, I had bought one from EBAY, it came in a sony packaging & everything including instructions and a converter to SD, however it was fake
I was given a website where they sold original SONY memory sticks, surely enough no more beeps when i stick it in the camcorder.
The warning the camcorder gives you is because the fake memory sticks do not support magicgate therefore there could be problems whilst you record directly onto the memory stick, such us video corruption and so on, so watch out if you are going to record important things on the card which is giving you these problems.