So basically the same thing Vista was doing (prefetch, and admittedly it did a shitty job with >1GB ram), except since its Linux, Oh its all fine guys, we won't destroy the OS' reputation.
See http://www.codinghorror.com/blog/2006/09/why-does-vista-use-...
edit: Sorry, getting prefetching and SuperFetch confused.
What Vista does is SuperFetch and I don't think it's there in Linux even now, except that someone wrote a program that would do a similar thing but it's not really used that much.