Mac OS X manages your memory automatically, and can use all memory that you have available. Also, there's more to the picture than free memory, as inactive memory is also free for apps to use. You don't need to worry about memory unless you have page outs.
To determine if you can benefit from more RAM, launch Activity Monitor and click the System Memory tab at the bottom to check your page outs. Page outs are cumulative since your last restart, so the best way to check is to restart your computer and track page outs under your normal workload (the apps, browser pages and documents you normally would have open). If your page outs are significant (say 1GB or more) under normal use, you may benefit from more RAM. If your page outs are zero or very low during normal use, you probably won't see any performance improvement from adding RAM.
Mac OS X: Reading system memory usage in Activity Monitor