Nero wave editor 4

I have recently upgraded to Nero 8 Ultra, upon attempting to open a music file, I am confronted by a window saying
“Unable to create peak file. Source disk is probably full or read nly (i.e. CD-ROM), or the peak file is invalid.” When I click OK I then get a another window “An error occurred while reading from the file. blah blah blah” . This has never happened whilst using an earlier version. I am using Windows 2000 Pro SP4. Please shed some light with this problem