emulator gets 1 gb by default, but that's sometimes not enough thanks to java's sub-optimal memory management.
if your system's 32 bit, you're out of luck since you're limited to 2 gb max per program. (2 gb is reserved by windows 100% of the time, and the remaining 2 gb is shared between all running programs, so you realistically never have free 2 gb)
on 64 bit systems the 2 gb hard limit's lifted, but if you only have 4 gb you won't have much more luck since the situation's still the same as before.
if your system's 32 bit, you're out of luck since you're limited to 2 gb max per program. (2 gb is reserved by windows 100% of the time, and the remaining 2 gb is shared between all running programs, so you realistically never have free 2 gb)
on 64 bit systems the 2 gb hard limit's lifted, but if you only have 4 gb you won't have much more luck since the situation's still the same as before.