First, that was not what MemMAX is reporting, though I guess you are going to say it isn't measuring accurately.
Second, I tested this on a machine with only 128 MB of ram. If those numbers were true, nothing would be able to run anymore.
Third, it seems to me you are adding memory usage of the operating system.
Also: be using windows for a while and available memory will have shrunken to almost zero. This does not mean the applications in use actually need that kind of memory (to be operational). Windows takes what it can get. Open up some other application and memory will be freed for that application. Least, that's how it all appears to me.