Fatal Error when trying to publish post or update post

After doing the latest update to 2.9, everything seemed to go fine. No errors, no problems.

Then, I tried to write a post and save it and got:
“Fatal error: Allowed memory size of 33554432 bytes exhausted (tried to allocate 79 bytes) in /home/ryumaou/public_html/hoffman/netgeek/wp-settings.php on line 307”

After some fiddling, I got the post to post, but still get this error. The line it refers to seems to have something to do with a PHP version check and I have verified that my host is on PHP5, so the check shouldn’t be failing.

Suggestions? Is this a known bug that will be fixed in the upcoming bug-fix release?

Thanks!