IanC, no the nongraphical install comes up automatically if the graphical one won't run. i know because that's what i used before i applied the fix for my video card.
if yr memory is low, why not try some other distro of linux?
there are plenty, and each one has a different priority. for example i saw one the other day (Kirix? or something like that?) that was dedicated to internet security, and there are bound to be some that are driven by the need to install on low memory computers... don't know which ones in particular though..