Yikes - I am receiving an error when I try to log in

Fatal error: Allowed memory size of 33554432 bytes exhausted (tried to allocate 1474560 bytes) in /home/urban1/public_html/wp-content/themes/atahualpa3/functions/bfa_theme_options.php on line 1508

Any ideas?

It means your available PHP memory of 32 MB has been consumed by the theme, the plugins and Wordpress itself. I have 32 MB, too, on my server and the theme works well. You could try if deactivating a plugin helps, or ask the host to increase your "PHP memory limit" a bit.

But as mentioned, it's running for me on 32 MB, with about 10 plugins activated & WP 2.7

Now resolved - although comes back if I use PHP 5