Interesting. From a developers perspective that might be debugging hell if something gows awry.
Well, some history first... early time of computer, something like ramdisk.sys was invented for use more ram that CPU was handle... the extra ram was used as a drive for speed up everything...
Later, with 32 bit OS, there ramdisk was forgotten due to CPU able to handle plenty of ram address range... people was short in ram and virtual memory using harddrive was used in case of shortage of real ram...
Today, you can have plenty of ram... ramdisk trick can become interesting again... in some way, it is how work sins... almost of constant data ( mesh, texture, etc ) are cached in ram for fast access... unfortunaly, the caching increase the size of the main application thread... will not be the case for a real ramdrive because OS handle it, like a real super fast drive... imagine a launcher.exe who initialize a ramdrive in the memory address range between 4gb and 64gb on a 32 ( 36 ) bit computer, copy all the game folder there and launch the sins.exe who have everything set on "loadondemand"... result will be a application running in the lower address range ( below 4gb ) using only a few mb... since all data is allready in memory, on the fly reading will be fast...
Well, today, computer don't use ramdisk but the basic principle of page files is similar... at the begin, a pagefile block was 4 kb... with PAE, 2 mb... usual x64, 4 mb ... some processor are ready for 1gb block ... now, processor use PAT who allow to work with various size block, the PAT thing is very similar the the FAT thing from harddrive...
As today, memory managment is something complex, who is handle by the processor or/and the OS... after all, you don't need to be a mechanical expert for drive a car!!!
Just for fun, try this on your MAC ( a shell script, very similar to a .bat on windows OS ):
#!/bin/sh
NUMSECTORS=128000
mydev=`hdid -nomount ram://$NUMSECTORS`
newfs_hfs $mydev
mkdir /tmp/mymount
mount -t hfs $mydev /tmp/mymount
this create a ramdrive with a capacity of 128000*512 bytes, format it, create a mount point, and mount the drive... result is a new drive who is faster that any other drive, a SSD is slow compared to it... for use it, you don't need to worry where are the data in ram, everything is handle by the system/processor... similar way with the pagefile system... devs don't need to remake a OS and use function already supported by the OS...
Well, it is really off-topic... use google and you will find plenty of book, site, etc related to memory management...
for example, you will find that garbage collector is a great memory management tool... but will discover that a microsoft bug who exist for year ( since 2005 and win xp pro x64 ) in WOW64 make the 32 bits application who use it crash on 64 bits OS ( http://social.msdn.microsoft.com/Forums/en/windowscompatibility/thread/1558e9ca-8180-4633-a349-534e8d51cf3a , http://zachsaw.blogspot.com/2010/11/wow64-bug-getthreadcontext-may-return.html )... bug is know but Microsoft don't plan to correct it because it will break software who use undocumented features of WOW64 and because the bug don't happen with 64 bits code...