I had to double-check that, I thought it was 512 MB. Yeah, that's not very much.
I also recall that the final iOS version for that device (iOS 5.x or 5.1.1) left less memory for apps and I regretted agreeing to that upgrade.
I really wish I could install a minimal Linux and the best minimal browser available. That would at least be an improvement over the doorstop that I have.