Huh?
There were no segmented x86 machines capable of addressing 256MB of RAM, aside from the 386 (maybe).
If you had a 386 and the $130K of memory your statement implies, you probably also could afford a Unix (or something else) license to get to that 32-bit address space. (If you weren't doing it all in memory, then you're having to depending on paging stuff out to disk, implying you either have a real OS or a flat memory model isn't enough to save you since you're manually having to page stuff to disk and back anyway.)
That's a super strange scenario you're describing.
Back then you had to chunk it out and fiddle with the offsets. Even then you still would have had to manage loading out the next chunk.
If my memory is right 1MB of memory in the early 90s was like 200-300 per meg. Would have to dig up a computer shopper and look.
I only have a couple reference points around this scale:
My dad's company had a system set up with a searchable index of a bunch of legal testimony. It was a Compaq Deskpro 386 running Unix with an attached 1GB disk. The 1GB disk set up was as big as the machine itself.
A few years later, I worked with a Cyber mainframe equipped with around 30GB of total attached disk storage. The disk array literally filled a room.
256MB disk on an 80's PC would have definitely been quite a bit.