I like the memory system as it is now.
One problem is, that at higher levels you get flooded with stat+ items, this includes memory as well.
Err, yes. Hence this thread suggesting that Memory NOT appear on random items.
Changing the additional slot gain from every 2 levels to every 3 would help a bit. Limiting memory to +1 or +2 on a couple of item slots (probably like helms and amulets only) would help as well.
Memory every two levels is (at level 30 and the base Memory of 10), 18 slots.
Memory every three levels is (at level 30 and the base Memory of 10), 13 slots.
Eighteen might seem like a lot, but we haven't left the first island, or encountered skills which use more slots of memory. The effect of moving from every 2 levels to every 3 would also be more pronounced at the start where you're already the most limited with what you can have. That does run the risk of adding a bit of monotony as you have to use the same skills you started out with for longer.
I think the larger problem is really the lack of requirements for various powerful abilities, as well as actually not very many skills in general. When there's 20-30 skills in every tree you'll sure be scrounging for all the memory you can get.
Certainly some additional requirements would help. And I think there's going to be only 16 skills in every tree, not 30, but that's probably close enough.
I think the solution is pretty simple for ability requirements: a memory cost penalty for low ability points in a skill. So if something requires 3 Necromancy, if you have 0 Necromancy it will cost 4 memory. If you have 2 Necromancy, it will cost 2 memory. This creates a dynamic where you can splurge on an ability out of your expertise for a certain situation, but you'll be sacrificing other skills to do so.
Something like this could certainly work. But currently there are two issues. First is that you need 1 ability point to learn any skills of that school, and secondly a lot of the powerful skills currently are considered rank 1 skills, and are available before the second rank becomes available at level 4.