If anyone is wondering, the UNIVAC scientific system pictured at the end was able to hold the impressive capacity of ~55 kB of RAM: http://archive.computerhistory.org/resources/text/Remington_...
The drum stored 288MB.
Edit: under "Some Applications", the first item listed is "Missiles". That shows where the money was.
Where did you get that number? It seems awfully high for 1957.
I remember reading an article/blog post from a programer of that time detailing how he optimized some code by taking into account the physics of the drum (such as mechanical inertia, angular momentum, etc.). I don't know how to locate it now but it was amazingly low-level.
And yes, the result should have made me wonder.