Yes. The OS memory limit is based on a 32bit addressing. That's 4GB.

If I remember correctly the per process limit is 2GB, and the OS reserves the top 2GB for itself.

Dranko, you the man! That I'll teach me to walk away for 15 minuets during a reply.

BTW: Swap isn't limited to 2GB, it's 4GB. Without the /3GB switch each process is limited to a max memory usage of 2GB.