You should note that free memory is basically wasted memory. Don't make assumptions, especially based on how Windows works, and don't try to micro-manage OS X's memory management.
It sounds like you have about 1 GB of inactive memory, plus the 0.5 GB of free memory. Inactive memory is essentially the same as free memory, in that it will be freed immediately if needed, so you really have 1.5 GB that are basically free. The difference is that inactive memory can be used to make your Mac work faster. For example, you may not be using the contents of that RAM at the moment, and it can safely be deleted without a problem, but it could also be re-used to prevent having to load that same data into RAM a second time. Think of it as a RAM "cache" of sorts.
If most of your memory were in the active or wired states, and your page outs were 10% or more of page ins, then you would need more RAM for the tasks that you are doing.