Anand's take on it was that it was mostly 3D apps where the memory bandwidth was an issue, not 2D office-type apps. The onboard video does steal a chunk of actual RAM for itself (8, 16, or 32Mb depending on which you choose in the BIOS).
I have four of these boards at work so far, and I was curious to see how much RAM a typical user would use, and whether the missing 16Mb was forcing the system to page to disk. I tested on a system that runs Win2k, and we use McAfee VirusScan, which sucks down 22Mb by itself. Then I started Outlook, Word, Excel, Access, Powerpoint, Publisher, QuickBooks Pro, Microsoft Photo Editor and our Terminal Services client program. Out of 256Mb of RAM, I had about 110Mb free (oops, I said "in use" before) at that point. Not bad. I closed all the programs and then re-launched some. As expected with Win2k, *BLAM!* they appeared instantly on-screen again, direct from RAM. Nice!
