The first, the myTouch 3G had about 100MB of RAM, with only about 25MB free from a cold boot, meaning the phone is really really slow due to memory pressure.
My current phone, a G2, has about 350MB of RAM total and about 70MB free on a cold boot (ICS).
A full Ubuntu Desktop install can use only about 250MB of RAM on cold boot and even Windows XP would run in 256MB of RAM.
So with so much emphasis on saving RAM, why is 350MB of RAM insufficient to run basically one app at a time on a phone (plus the various background processes the system is running)?