This is the products internal ROM (Read Only Memory) plus the RAM (Random Access Memory). To store data which is only possible to the RAM memory, not the ROM. So this is not the total storage memory. For that look at RAM memory size.
The operating system is the platform from where you can run different applications. There are several different operating systems available today. Below are some examples. Windows CE - A new operating system specially designed for palmtops. This is not a limited version of Windows 95/98 but an operating system in its own right. However, there are still many functional similarities, and the look and feel is definitely that of Windows. There is also the Palm OS from Palm Computers. Several other manufacturers also have their own systems, Psion's EPOC being a notable example.
Bluetooth is an open specification for a cutting-edge technology that enables short-range wireless connections between desktop and laptop computers, personal digital assistants (PDAs), mobile phones, printers, scanners, digital cameras and even home appliances - on a globally available band (2.4GHz) for worldwide compatibility.