40-50 area.. are you referring to minutes?
Is your HD partitioned? If it is, make sure soundforge is working with the partition that has 8gb left.

I set it up for the drive that has 8 GB left, but I think it's installed on one with only like two... And no, it's not partitioned...

hmm.. weird, I would say to go into the 'setings' and under 'general' tab, make sure that the temp files are pointed to a drive w/ sufficient space, and also make sure that you reserve a shitload of space.. not just like a 100mb, cuz at least when i do it, it records at regular pcm values of 16bit 44100Hz and as you know, wav files are fucking huge, to be safe I would reserve about a 1500mb to be safe, although ur probably fine with a gig..

i said 'weird' above because just today, my soundforge started being a bitch, usually i record straight to the computer from the mixer, but yesterday i decided to record to my minidisc, and today i was doing MD to computer, and friggin soundforge froze my pc at around 9 minutes, and i tried like 5 times, so i said fuckit and used cool edit pro to record although i'm not really familiar w/ that program but i dunno y soundforge is crappin out on me today..

If you're still having problems recording with Sound Forge, post back... or try using Total Recorder instead

Ya, im still gettin the same thing...

When it says there is no more room for recording, does the disk space indicator in the bottom right show 0Mb?

no it says 9 gigs. It always stops at 46 minutes.

What OS are you running?
I would suggest to disable some items on your startup if its a Windows OS like 98, ME or XP.
If you want to know how to disable startup, go to start, then run.. in run field, type 'msconfig' (without quotes)
on startup selection tab, make sure selective startup is chosen, then click on the startup tab on the far right... uncheck all boxes... click apply then ok, and it will prompt to restart, and restart.
If that the not resolve problem, uninstall and reinstall soundforge.
If that does not clear up the problem.. run scandisk and then defrag on your HD.. make sure you scan and defrag all partitions on your HD.
I want to know... has it worked before in the past?
One other thing i would suggest also before you start doing defrag and invest time is to run a virus scan. If you dont have one, you can get a free scan at www.housecall.antivirus.com ... its free online scanning tool. Is just that the problem sounds flaky and its possible that a virus may be causing the program to incorrectly identify disk space.

Are you running a cracked / warez / pirate version of SoundForge? If yes, it may be a dodgy or incomplete crack that is causing problems. I have no idea whether Sound Forge has any copy protection in it so I can't help more there.

If you've got a legal version then have you contacted Sonic Foundry tech support? I know it sounds obvious, but I thought I better mention it.