Nah, I don't use 35mm anymore. Too small. It's 120 (60mm rollfilm), 4x5 inch sheet film, and some 3.25x4.25 polaroid film for proofing.
It's not really fair to directly compare the amount of RAM in the console to a normal computer. The computer will have a complex operating system as well as a bunch of various programs running in the background. The consoles don't. 512MB in an console is more comparable to 1GB in an XP machine or 2GB in a W7 one.
The specs aren't officially announced, but it's almost definitely going to have a GPU based off the Radeon HD 6670. CPU will be a custom design by Microsoft, most likely based off the PowerPC architecture to give it backwards compatibility with the 360. Six physical/six logical cores are likely. I've heard 2GB of memory from a few sources. So yeah, nothing special, but it will be a huge improvement over the current xbox.