With the release of SP1 for Windows Server 2008 R2 we now have Dynamic Memory available to make more efficient use of memory. That’s nothing new (I hope).
Sometime Dynamic Memory is referred to as “the Microsoft answer to (VMWare’s) over commit”, but this is not exactly true.

According to the Merriam Webster dictionary (http://www.merriam-webster.com/dictionary/overcommit) overcommit is:

Main Entry: over·com·mit

: to commit excessively: as
a : to obligate (as oneself) beyond the ability for fulfillment
b : to allocate (resources) in excess of the capacity for replenishment

When searching for information regarding Dynamic Memory I stumbled into these blogposts on Technet, IMHO they’re really valuable: