The Playstation by comparison used EDO (Based on eyeballing the pictures on wikipedia, baseline was 70ns/60ns for CPU and Video memory.) But, It's main bus was under 133mb/sec, and the fastest it could read from CD was 300kb/sec.
EDO Memory would have kneecapped the N64 from a memory bandwidth standpoint. The cartridge bus alone is over 200mb/sec. SDRAM -might- have done the job but may have wound up being more expensive; PC-66 (we are at the infancy of SDR in 1996) would have meant a PCB with 8 chips laid out for the parallel bus. To be frank I'm not sure Nintendo could have even gotten such a configuration (i.e. 8 512KB PC-66 chips.)
RDRAM was definitely a design compromise, but in retrospect I understand it's use in keeping overall costs down.
Dedicated video ram would have been a better option however, but I think it was another cost issue.