There is no way your phone loaded all those images.
It DOES have 512mb of RAM. Proof: http://www.appleinsider.com/article...nds_huge_dual_battery_512mb_of_ram_in_a4.html
http://www.ifixit.com/Teardown/iPad-Teardown/2183/2 said:Decoding the part number shows there is 2Gb of memory inside. This translates into ~128MB of memory per die, for 256 MB total. (NOT 512MB, as we previously reported.)
The ultimate web surfing experience? No.
I love my ipad, but when I was on a image-heavy page I was greeted by a series of little blue boxes. Very disappointing. I bet another stick of 256 mb would cost them another 5 dollars or something to include.