This is kind of a double edge sword, and an issue that I've started having with my Bionic recently (also 1 GB Ram). I'll explain my thoughts on it, but it'll be kinda long. I'll give you the TL;DR version now, then you can decide if you want to read on. Basically either you will need to reboot, or stop using/uninstall big apps (like a lot of the new games).
First, you need to understand how and why current versions of Android handle memory like they do. With our phones, memory is memory as far as battery consumption is concerned. CPU use aside for now, a full loaded Ram will use just as much power as one only partially full. In other words, apps and cache loaded in the background sitting dormant with no CPU demand takes zero extra battery power. What does take a lot of power is initializing apps from scratch. So what Android does is leave as much data in Ram as it can so you can go to various apps quicker and with less battery consumption because it isn't having to load so much from scratch.
So why are memory boosters/managers/task managers/et. al. bad? They see this dormant memory data and kill it, which takes battery power to process. Then Android is like "wait a minute, I'm going to need that later," and reloads things back into Ram to fill it again in the background without you noticing. That, again, takes more battery power. So these manager apps always killing data and then having it reloaded over and over will actually increase battery consumption from the added processes of doing so, vs letting Android kill as needed. Memory managers may have had a purpose in the early versions of Android but current versions are very good at handling it itself. Most of those people rating managers well are likely treating Android like Windows, where having low Ram usage is ok, and that's all they look at. They don't understand the background processes going on in Android and how trying to maintain low memory usage is actually negatively affecting their phone.
One thing I have noticed on mine by looking at that running services in my app manager (via the manage apps settings, not a stand alone manager like the op is using) is that various apps, even system and needed apps increase their Ram usage over time since the last boot. Even with relatively few apps running, the amount of ram taken up is in the 900 MB range if the phone hasn't been rebooted in a few days. Trying to run a game like Clumsy Ninja (my current 3D game of choice) will be very laggy and I'll start getting various app not responding/close notices. From what I can tell, the lag is because the Ram is too full and Android is now fighting with itself constantly closing background apps to free up space and then re-initializing them because they are needed/wanted. All of that takes up extra CPU power, which leaves less power to run the game. I don't have any real proof that's what's happening, just an educated guess based on my observations and what I know about how Android handles memory. Rebooting the phone clears out the Ram used by the background apps and Clumsy Ninja works smoothly again. I suspect it's not simply a rogue app sucking up Ram in my case because the amount freed up from a reboot is across the board on almost every running app and especially the home screen.
That's why I said in the beginning your only option may be to reboot occasionally if you plan to run larger apps. Another option, assuming it's possible, is to maybe see if there's a way to "refresh" (for lack of a better term) the background apps so they aren't truly killed over and over but are reset back to their freshly booted state. I haven't looked into this, so I'm not even sure if it's something possible, much less easy and unobtrusive/automatic so it's not a hassle. It may also be possible to freeze apps if you're rooted to prevent them from being re-initialized in the background, but that means you'd then have to thaw them when ready to use them again.
Suffice it to say, with as fast as technology moves with phones, 1 GB of Ram won't do much for you anymore simply because apps are becoming more demanding. Maybe someone that knows more than I do can offer a better solution, but for now I'm ok rebooting my phone if needed and don't bother with memory managers.