Well, I've just read that the vRAM licensing model is defunct and the licensing model will revert back to socket.
What I'm not sure of if this relates to vSphere 5.1 only (release date of Q3 2012) or vSphere 5.0.
I've emailed our VMware account manager to find out........
The licensing document seems to indicate that vRAM restrictions no longer apply to vSphere 5.x.
An overview of "What's new in vSphere 5.1" can be found here
Update: The account manager confirmed that the licensing has been changed to CPU for vSphere 5.x (Excellent!! We can now buy some more memory without having to buy more licenses!).
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