Is 512 MB RAM Really Enough for Android ICS?
I have an LG Optimus 2X. Same, 512 MB of Ram. I've used ICS. Now I'm on Jellybean(4.1- CM10).
 I've never had a problem using the phone. (Heck it because so much smoother in JB). The only problem is that certain memory hungry apps like Chrome are a tad bit laggy.