It appears from your specs that your system should be able to "cut the mustard". A couple of easy things to check: 1) Verify the spare disk capacity for your system, capture and render drive(s). You should have at least 15% spare space. Liquid has bogged down for me when I have passed the 15 % threshold. 2) Check and see if your drives need to be defragged. Even if you have a large amount of free space, a fragmented drive will cause the behavior that you mention. 3) Check for an update of your VC drivers. 4) Verify that liquid is actually rendering by double clicking on the little sigma button in the lower tool bar. If all your color bars are green, Liquid should be done rendering.
With respect to the render bar colors.... dark red --> Missing media, red --> clip needs to be rendered and cannot be displayed, yellow --> clip needs rendering but can be diplayed, green --> rendering complete.