I've checked the numbers from from windows taskmanager and the swapfile usage really is 400mb+ for mirc.exe cos taskmanager shows the specific amount of the pagefile each program has reserved for themselves. My overall pagefile is the windows default 768mb in this case, altho windows will increase it when needed. The peak number is also correct. You can see them both if u go to processes tab in taskmanager and select view - select columns and tick peak mem usage and vm size from there. (you prolly knew this anyways)

Well that wasn't my inital reason to post.
The reason is that i found out what was causing the high memory usage! It was WindowBlinds, i had skinned my windows and mIRC too ofcourse. I uninstalled WindowBlinds and now i've been running mIRC for 14 hours and memusage is as follows:

Mem Usage: 5mb
Peak Mem Usage: 11mb
VM Size: 5mb

And the channels and settings are exactly the same as in my first post. So i guess it's problem solved then. Dunno what will cause that tho but i prolly have to stick with ugly default windows look from now on, acceptable tradeoff smile