You cmaier, were one of those (surur and mikec too of course) that berated me for stating what everyone will now be seeing with the SDK.For those of you who remember the big virtual memory discussion, turns out the iphone DOES have virtual memory. It operates a bit differently from the desktop version, though, so you are limited to physical memory space.
And so you will also see that it does indeed have 1GB of RAM, but not for the virtual memory as you typically think of it, as you just stated. It is memory that actually lets the thing compile on the fly and store the stuff there.
But of course I'll never get an apology. I just get banned.