Hmm, that's interesting. I never read that particular article before. However, it states:
In a sampling of native Power Macintosh applications, we found the average RAM required to launch an application was almost 2 MB less when virtual memory was enabled.
That's insignificant today. Moreover, i believe that running apps with VM disabled results in less disk usage and
faster performance
once the app is loaded into the application partition in RAM. Am i wrong? In any case, speed isn't really the concern. I don't care if Photoshop takes 2.5 seconds to render a filter instead of 2 secs. Plus, Photoshop 5.5 is only about 15 MB which is also insignificant when i have 768MB.
So, interesting factors to consider, but i'm still looking for that utility to free up/defragment RAM without having to restart....