We’d have to get confirmation from PG but it sounds then like you’ve hit a limit of the WAV file format; I’m not sure about LE7 but the full WaveLab offers the option to record in Wave 64 format which doesn’t have this limitation. You also have the option to automatically split files at a certain size when recording. I seem to remember doing this even with the old WaveLab Lite, which I think was based on WaveLab 4 or 5. Could you try using a different format for the file (I can’t remember what options are available in LE7)?
Approaching this from a different angle, with a 4GB card in my H1 set to 24-bit @48kHz it tells me I have 03:48:38 recording time … not sure how it does this exactly (does it split the files?) as I’ve never pushed it to the limit. Again, as above, I’ve suggested using 320kbps MP3 for the recording – I’ve done this and it’s more than adequate for dialog and ambient sounds – but perhaps you need a lossless format. With the same card the H1 offers me 27:26:13 by just switching to 320kbps MP3. Dropping down to 128kbps give a whopping 68:35:33 (that’s nearly three days!)