Running PHP 4.07dev from phpWin on SourceForge...and running IIS 5.0 and running PHP in CGI form...have not tested the memory_limit directive on earlier versions of php..

using following script, the 30 timelimit was hit, and as it should, but php.exe was able to chew up over 100mbs and it would've gotten more if it wasnt' for the time limit which works 
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<? 
$i = 1;
while(1)
{	
	$i++;
	$toast[$i] = "asdfasfd";
}

?>