I personally believe the iP5 will still have 512MB just like the iPad 2. From a user standpoint there is no real reason to bump up the RAM this year. The 3Gs is rocking 256MB and will be receiving iOS 5 although this is probably largely due to the iPT4 still having 256MB as well. But how much RAM is too much RAM? You can buy several Android phones pumping out 1GB.. But I bet nearly half of that isn't getting used.