It is probably close to the limit. For reference below is the resource usage on mine (1GB ram) after a couple of days running.

  PID USER      PR  NI  VIRT  RES  SHR S %CPU %MEM    TIME+  COMMAND           
 2188 bitcoin   20   0  353m 200m 3708 S    3 20.2 310:23.68 bitcoind           
 4320 bitcoin   20   0  306m 108m 2732 S   35 10.9 729:14.69 python