Yes. One of the errors you got is "Unable to allocate memory for subdiv cache." The subdiv cache is dynamically allocate during the render, unless you check "preallocated subdiv cache". You can set the maximum size of this cache on the render settings node (Advanced tab on the render node). If you set the project up on a 64-bit machine with lots of cores, it probably defaulted the subdiv cache size to quite a large number. On your 32-bit machine I would make sure it's set to no larger than 1000 Mb, considering you're already seeing usage up to 1.5 Gb. Hopefully when you saw 1.5 Gb it was already using some of the cache. If not, I'm afraid you might need to bring the cache size down below 500 Mb. It might hurt performance though.