The N1 physically has 512MB of RAM. The limitations are most likely based in Android so if the Bravo has 320MB of RAM, well that's less, physically. But they'll be subject to the same limitations until the supposed kernel update opens things up. Right now, draw. Later, advantage N1.
From the leaked brochure, I think it's 512MB of ROM for each phone and Android sucks up half of that. Draw right there.
How is a custom UI sitting over Android and using more memory going to run faster than the stock experience? Add to that taking away 150MHz? I'm guessing huge advantage N1 here.
Last I checked any android phone that has specced RAM is about app storage. The Droid has 256mb. Low and behold how much room does the Droid have for App storage? 256mb.
Google fails to address app storage issue with Droid and Android 2.0 – Android and Me
Hence the N1 should have 512mb for app storage. Only it doesn't. I don't know why that is as I thought it was going to be a selling point. But its the 256. Hence the Bravo being specced at 320 means 320 for app storage. Hell even if you take the RAM requirements for the OS's you're still looking at 200mb for the N1 and 220MB for the Bravo. Advantage Bravo.
How is a custom UI going to run faster then stock? Well I guess if you've never paid attention to anything that has come before it it would make sense that the stock would run faster. But then you'd have to say stock android never runs laggy. You now thats not correct. Stock android has had complaints of lagginess since 1.6 at least. Sense on the other hand is not some program that is simply installed onto an android phone no matter how many people act like it is. It take Android and modifies then optimizes parts of it. Android OS, not so much (remember stock android is not optimized for particular devices like Sense). You can have easier scrolling on a Sense device and laggy on a stock device. So when you take into accoun traditional lag of the stock OS the possible lacking of 150mhz may not make that much difference at all.

