First, your saa7134 card is not being recognized, so you may need to put a card=x argument in your modules.conf. I think for the card I used, "options saa7134 card=33,33,33,33" worked. If buffer allocation is failing (the "cannot allocate memory" message), try changing the number of buffers at line 94 of v4l2_ingest.cpp to a smaller number like 16 or 8.
If SDL is saying that it cannot set the video mode, make sure you are running it from within an X session. If not, the GUI will not work.
-Andrew