Firefox 3 Solves the Memory Problems?

This is a ‘bit of news that might have been missed by some. It looks like Firefox 3 continues to gain praise for having a significant reduction in the amount of memory it uses over Firefox 2.

Over at Ars Technica this is what they are saying:

During intensive browsing with approximately 50 tabs, I have found that Firefox 3 generally consumes less than half of the memory used by Firefox 2.0.0.12. Firefox 3 is also snappier and more responsive when switching between tabs and performing other operations that typically lag in Firefox 2.0.0.12 when the browser is experiencing heavy load.

This is great news for any Firefox fans out there. Over the recent years the memory problems seem to be the big sticking point for a lot of people. Has this mountain of an issue finally been solved?