Omaps are SoC. That means, that most part what in normal computers are on other cards or chips than the CPU, but in omap chips there is everything on the omap chip. Also the RAM. When first asked, the developers of the Pandora stated, that more than 128MB Ram is not possible, because there is no Omap 3 with more than 128MB. Now it seems they use an external RAM chip. And here comes the problem: In the n810 they only provided one minisd because of the gps chip and antenna. In the NITs free space is rare.
Well, given swap is usually 2x the RAM this might indicate 384 MB RAM.