I don't put too much weight on what memory reporting Apps say. I've tried a few of these Apps and none of them seem to work right. AFAIK OSX splits memory into four pools, Wired, Active, Inactive and Free. If you add these up you should get the total memory of the device. However both Pad Info and iMemGraph are currently reporting the grand total as being around 140Mbs instead of the 256Mbs that I would expect.
So the question is where has this 'missing' memory gone? Presumably iOS is using it for something. If it is being used for caching or buffering then it's likely that it could be very quickly freed up for App use.
Do jail broken iPads give more information?