My Ipaq 2210 is said to have 64MB memory. Some of this is used as ROM, leaving about 57MB for use.
Bearing in mind that PPC software is small, I find this quite adequate.
Also useful is the fact that most (not all) software can be installed to SD or Compact Flash cards. (My Ipaq has two card slots).
It is sensible and easy to do a complete backup to a flash card, you can then restore without the PC.