Setting a 1gb memory limit is a great way to hide the problem and dramatically reduce the maximum number of concurrent requests to your website, and drain resources from any other services running on the box(es).
<?php
ini_set('memory_limit', '1000M'); // or you could use 1G
?>
Joking aside, do most people these days just use MB (1000^n) instead of MiB (1024^n) when working with RAM? Is this now the standard way to calculating memory?