It's interesting, I use Camino at home on a MBP with a couple gigs of RAM, and at work on a G4 DP1000 with a measly 384MB, and I've noticed behavior somewhat similar to you, but ONLY on the MBP.
For one thing, I'm inclined to blame flash ads for what you're seeing--I've noticed that some flash ads are very, very effective at causing Camino to choke, and news sites are often a perpetrator. It is partly because of the way Camino handles flash in non-visible pages (I believe it keeps the content running even if it's not onscreen, where Safari pauses it if it's not in the active window), which ends up bogging down when it's trying to load a half dozen flash thingies at once.
Don't know whether that's more Adobe's fault or Camino's--I tried installing the beta of the latest version of Flash, but it only helped a little. You might try using one of those things that keeps flash from pre-loading until you click on it. Might help.
But I've also been seeing a surprising number of Camino crashes and things where the frontmost window will become unresponsive if you do certain things in a different site in a different window. Again, while I haven't done exactly the same things at work, it only seems to be at home.
I mention this because I'm sort of wondering if there might be some quirks in the Intel-native Camino code (though I don't remember it doing this prior to 1.5). Or maybe there's something else going on--perhaps it's a cache issue or something?
Kind of hoping maybe our problems are related, so maybe somebody else will have a suggestion...