Yes, indeed. Older Macs were very flexible with their RAM disks. You can even copy an entire System Folder and set the RAM disk to be the boot drive so that you can repair your main boot drive without needing a bootable CD and CD drive.

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Yep. That made my Mac Plus ever so much more useful back in the day. I used something like RAMDisk+ or some such which automated much of the booting and transferring process.

I think the persistence of RAM disk across a system Restart ended with the Beige G3 (Beige lacked that feature).