Import Error: Allowed memory size exhausted.

I’m trying to import all blog content from a live blog to my local installation. But I keep getting memory errors. I’ve already tried bumping memory_limit and max_execution_time to 10 times their default settings, which allowed me import more posts than previous attempts, but am still getting errors. Here’s an example of the error with backtrace.

Fatal error: Allowed memory size of 268435456 bytes exhausted (tried to allocate 6144 bytes) in C:\xampplite\htdocs\3.0\wp-includes\kses.php(550) : runtime-created function on line 1

[Backtrace moderated as per the Forum Rules. Please use the pastebin]

Is there a good way to export/import a large blog when you do not have direct access to the database?

Thanks in advance for your time!
-Mike