Quote: "Wouldn't mipmaps be stored in video memory?"
I would have assumed so, and it may actually be the case on other graphics cards.
You can see for yourself. Run this code and see which number drops:
create bitmap 1, 512, 512
set current bitmap 0
print system tmem available()
print system dmem available()
print system smem available()
set current bitmap 1
for i = 1 to 100
get image i, 0, 0, 512, 512
next i
set current bitmap 0
print system tmem available()
print system dmem available()
print system smem available()
wait key
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