Quote from KfirTheMiner100
Can't load up Minecraft with ML. Here's the report:
Error occurred during initialization of VM
Could not reserve enough space for object heap
That's the error that happens when you run out of RAM. Try setting the allocation to 0 so MC dynamically handles it. Since you have a 32bit operating system you can't be using so much.
After setting it start a game up then hit F3 to watch your memory then set it a little above of what is being used if you want.