Thanks for your reply Mac.. I did a return to Factory Settings.. Still the same.. Won't render to individual files.. I'm beginning to think it's something in Version 2011 & 2011.5 ..
I had Version 2010.5, & it rendered all my tracks to individual Vave files, never had a bit of a problem. Left my 2010.5 at our other home, & can't access it..
My 2011.5 is on a hard drive, also installed on my C drive.