The article is actually correct - the general state of a system of 300 spins is described by 2^300 complex amplitudes. The remaining question is how much memory you are willing to spend per amplitude but with two doubles it will take 2.6 * 10^92 bits. You only get away with 300 amplitudes if the spins are not entangled and the state of the system therefore is a product state, i.e. you can factor the state of the system into 300 independent states, one per spin.
A two spin system for example has the general state
a |DD> + b |DU> + c |UD> + d |UU>
requiring four complex amplitudes, not two bits only selecting one of the basis states.
EDIT: Could not resist. The storage density of a 15 mm thick 2 TB 2.5" hard disk is 152.7 Ebit/m³. With the number from above this yields 2 * 10^27 ly³ for the volume which is not to far from the visible universe with 4 * 10^32 ly³ according to Wikipedia. Okay, it is a factor of 200,000 but that will only buy you 17 more bits plus some space for cable routing.