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It has an i5, 6GB of RAM, 750GB HD, WiFi, and of course a DVD Burner. This was in all a $600 laptop. With a 2 year warranty and a slew of extras it ended up being shy of $1,000. This is a very good laptop. While it doesn't compare to my main computer that I am on now it is more than enough for any college student.
Well on older computers 512mb was pretty standard, now days 2gb or 4gb is about average but 2gb is the minimum you need to run windows Vista or windows 7. You can go up to 8gb or even 16gb with the right setup and if your willing to shell out $400 bucks.