Guys its really simple. On the ov you had a /data parition (which on android phones is the area where your apps go and is "available to the user" because it is read/write mounted at boot normally) But what most people don't realize if you have a /system paritiion that is usually larger than the /data paritiion (not sure of exact size on the ov but it's probably more than 200mb) then you all have a /cache partition that is usually close to 100 mb. In totaly on the ROM chip, the ov has around 512 mb but on roughly 178 mb(It's actually larger but on a fesh wipe of data and after all files are rebuilt that has to be, you are left with 178mb) is on the data partition. Plus there are other partitions that hold the kernel image as well as the radio information and other stuff like that.
On the triumph you have a /data parition that is almost 1gb(1023.93 mb) but on a fresh stock install only about .98 gb is available once all the files are rebuilt(dalvik-cache, files the system stores in data, etc.) So there is roughly 1gb available to the user. However the total space on the ROM is much more than that. There is a /cache partition that is 183.69 mb, the /system partition(where the system files are stored at) is 227.78 mb, there is also a /hidden partition that is roughly 20mb and a /hidden/data paritition that is 44.22 mb. These are where the .iso for the usb drivers and all the vm added apps and settings, wallpapers, and bootanimations are stored. This is still only about 1.5 gb but if you have linux, and you are in bootloader mode, you can hook it up and view the entire ROM chip on the phone in the disk manager, and see that there are many more partitions on the phone including a vfat parition located at /dev/block/mmcblk0p1 on the phone that holds the splash.img, recovery.img and bootloader information. There are also many more partitions that hold kernel images, radio(cell radio) files, and other files that you cannot access. In total the whole ROM chip has about 2 gb of space, however only around 1gb is on the /data partition which is considered to be "available to the user"
**EDIT** and stef7, the RAM(Random access memory) is not configured in these values. The RAM is roughly 512 with only 349mb available to the user. The rest is reserved for the kernel, the vm, the cell radio, gps, camera recording, etc.
Everyone needs to do some research on how android phones are setup lol!