What on Earth are you running...? It sounds more like there are some poorly coded programs making a mess of things.
I've never seen a "low memory warning" on an iPad...
I kid you not, barely anything, i get the warnings just in safari. And crassh's even in safari. I can post my error logs, lol so far today i have 4 low memory wanings and 2 safari crash's so far since starting it 2 hours ago, and only been using the ipad off and on browsing neowin. Reload with no apps, same thing. I turn on multitouch and it gets worse.
I took screen iof all 6 pages of errors notifications sent to apple since last reload. And a screen of whatever log i clicked on diagnostic reports if you want to see, lol
* edit , put the images on skydrive, getting link now
literally this is why i hate my iPad