I took a look at the memory usage for the GP2X version:
CODE
Sections:
Idx Name Size VMA LMA File off Algn
0 .note.ABI-tag 00000020 00008094 00008094 00000094 2**2
CONTENTS, ALLOC, LOAD, READONLY, DATA, LINK_ONCE_DISCARD
1 .init 00000014 000080b4 000080b4 000000b4 2**2
CONTENTS, ALLOC, LOAD, READONLY, CODE
2 .text 00106afc 000080d0 000080d0 000000d0 2**4
CONTENTS, ALLOC, LOAD, READONLY, CODE
3 __libc_freeres_fn 00000724 0010ebcc 0010ebcc 00106bcc 2**2
CONTENTS, ALLOC, LOAD, READONLY, CODE
4 __libc_thread_freeres_fn 00000088 0010f2f0 0010f2f0 001072f0 2**2
CONTENTS, ALLOC, LOAD, READONLY, CODE
5 .fini 0000000c 0010f378 0010f378 00107378 2**2
CONTENTS, ALLOC, LOAD, READONLY, CODE
6 .rodata 0003667a 0010f384 0010f384 00107384 2**2
CONTENTS, ALLOC, LOAD, READONLY, DATA
7 __libc_subfreeres 00000028 00145a00 00145a00 0013da00 2**2
CONTENTS, ALLOC, LOAD, READONLY, DATA
8 __libc_atexit 00000004 00145a28 00145a28 0013da28 2**2
CONTENTS, ALLOC, LOAD, READONLY, DATA
9 __libc_thread_subfreeres 00000004 00145a2c 00145a2c 0013da2c 2**2
CONTENTS, ALLOC, LOAD, READONLY, DATA
10 .eh_frame 00000004 00145a30 00145a30 0013da30 2**2
CONTENTS, ALLOC, LOAD, READONLY, DATA
11 .ctors 0000000c 0014e000 0014e000 0013e000 2**2
CONTENTS, ALLOC, LOAD, DATA
12 .dtors 0000000c 0014e00c 0014e00c 0013e00c 2**2
CONTENTS, ALLOC, LOAD, DATA
13 .jcr 00000004 0014e018 0014e018 0013e018 2**2
CONTENTS, ALLOC, LOAD, DATA
14 .data.rel.ro 00000318 0014e01c 0014e01c 0013e01c 2**2
CONTENTS, ALLOC, LOAD, DATA
15 .got 000000d0 0014e334 0014e334 0013e334 2**2
CONTENTS, ALLOC, LOAD, DATA
16 .data 0000808c 0014e420 0014e420 0013e420 2**5
CONTENTS, ALLOC, LOAD, DATA
17 .bss 0040a794 00158000 00158000 001464ac 2**13
ALLOC
18 __libc_freeres_ptrs 0000001c 00562794 00562794 001464ac 2**2
ALLOC
19 .comment 00001f4a 00000000 00000000 001464ac 2**0
CONTENTS, READONLY
Most of these don't really matter, but the .text and the .bss are quite significant, at over 1MB and 4MB each respectively (the BSS is a few hundred KB larger than on the PC, probably because of the 8KB alignment I recently slapped on a few structures). The amount of stack and heap needed is fairly small (should be in realm of a few KB), although heap could go up a lot if huge directories are entered. Should this work out OK? Oh, and if OGG support is disabled then it may go down a little, although probably not more than a few dozen KB at the most.