Are you sure that's physical memory?
It better be. I configure my system that way.
During normal use (similar to
what you describe), Firefox does grab over 500 megabytes of virtual
memory, but usually only about a couple of hundred Mb of physical
memory.
And that's an invitation for a stab in the back by the OOM killer.
Rather waste sincerely and honestly than speculate.
(Yes, I know this was written by Richard.) Semi-modern workstations
should run without swap, in my opinion; "a few G or RAM should be enough
for everyone"

Really, suppose you have 2G RAM, and some processes
spill over into swap. The random-like memory access patterns of several
processes are now reflected by the head movements of your consumer-grade
hard disk. (The I/O scheduler, if any, can help only so much.) You won't
be able to bring up a terminal or task manager to find / suspend / kill
the offender(s) in reasonable time.
In a desktop situation where swap would help, swap is no help. Most of
the time I like a clean and quick "out of memory, exiting" message more
than waiting for several minutes on the disk (and probably getting the
same message in the end).
I have no experience with solid-state drives, but consumer-grade thumb
drives etc have *catastrophic* random-write performance, especially the
bigger ones -- they are worse for swapping than traditional hard disks.
I notice though that all popular graphical browsers have roughly
comparable memory consumption. Certainly, in my experience, Firefox,
SeaMonkey, Galeon, Chrome. Opera tends to consume about 50 Mb less
than these.
I suppose browsers have to handle lots and lots of small objects, ie.
objects that don't deserve their own mmap()-ed pages in the default
malloc configuration. This likely leads to hellish heap fragmentation
and a huge heap VMA. It would be interesting to see how memory usage is
affected after a long browsing session, when one opens a pristine
window, closes everything else, stops all downloads, and clears all
history and caches. In that case, even the heap VMA should be trimmed.
Cheers,
lacos