Question, do i have 128 mb real RAM memory...

The memory is being lightly used.
Total memory on the system is 259584 KB
Free available memory is 150308 KB
Used memory is 109276 KB which is 42 percent of the total memory

Just as a side note, log into *any* site's control panel, and click on the blue Cobalt 'C' in the top left corner.

It looks like you have 256MB

Probably 128mb Real and 128mb swap file... Click on Colbalt logo from to find out how much is installed