I see the exact thing. I've even seen Safari Web Content over 2GB by itself.
Admittedly my computer use profile is part of it, but I think it's reasonable to consider my laptop a toaster, always on, rebooted only when needed to install updates, thankfully much less frequently than the Windows 7 laptop my company provides. My laptop is a mid-2011 MBP with 8GB RAM, which should be plenty for consumer uses (mail, web, photo, and music).
I leave Safari running, walk away from a page that I may come back to in a few days, etc. I sometimes have 3-4 windows with 6-7 tabs each, all with work in progress or news sites I just refresh periodically to catch the headlines.
This seems to be in conflict with the way Safari was written from a memory consumption standpoint. Start cold (which I do now and then to free up RAM), and Safari + SWContent are 100MB or so. Time moves forward and the number only goes up. Its like each time you refresh a page it grabs more RAM and never releases the old.
I've seen the same behavior with IE 8 and 9 on Windoze, so it seems the same programmers are writing apps for all platforms, so maybe they're working on the side for memory manufacturers... 🙂
I wouldn't care if they would only cap it at some user-configurable value (100MB, 500MB, 1GB, something). Safari has a setting for Max Database Usage that is small numbers, and I have no idea what DB that is talking about.
Even if it's grabbing fresh RAM for every byte on every page, there is NO WAY I'm downloading multi-GB of web content. What exactly IS in Safari Web Content, anyway?
Bottom line, it may not be a leak, but it's crappy memory management practices.