> all downloaded images are decoded and live forever regardless of if they are shown.
Nope. Before the backed-out-of-FF22 patch landed, all images in a page were decoded and kept in memory as long as that page was in the foreground. But if you switched to another tab, the decoded images would be discarded.
With the backed-out-of-FF22 patch in place, most images that are downloaded are decoded temporarily, but those that aren't visible are discarded quickly.
When bug 847223 is done, the not-visible images won't even be decoded on page loading.
So, to summarize: in FF24, on image-heavy pages you'll see a memory spike on first load, but it'll quickly drop down. And once bug 847223 is done (hopefully soon, though these things are hard to predict), you won't even see that spike.