I have that age old problem with Studio9 .4.3 it hangs when rendering.
My original version was 8 which worked OK apart from the usual crashes, and so purchased the upgrade to version 9.
It works with still photographs in slide shows, but when I try video it hangs when rendering. Pinnacle support took 10 days to reply and suggested I do all kinds of weird things to my PC, which is just not practical so I have purchased a brand new P4 3.4ghz with 1gb ram, 256mb Radeon graphics and 250gb HD. Yep you guest it, still hangs.
Fortunately, the new PC came with Studio 9SE which also would not render until I loaded the latest 9.4.3 patch. Everything was now fine until I realised SE has limited function. Any idea why the full version upgrade wont render when the free SE version works fine?