32-bit ram installed on an accelerator is considered "fast ram", that is correct. In fact it is typically faster than the 16-bit memory installed in a Zorro slot by several orders of magnititude (how much faster, exactly, depends on the design of the accelerator card).
A properly configured system will use the 32-bit fast ram first (since it's the fastest), followed by any 16-bit fast ram, and lastly chip ram (once all other resources are exhausted). --- The exception being for data that requires chip ram, obviously.
You may also want to look into installing the
TLSFMem patch, which IMHO organizes the RAM a little better than the standard system architecture. YMMV.
