На, читай, просвещайся. http://www.worldofspectrum.org/faq/r.../z80format.htm
По поводу памяти там недвусмысленно написано:
In 48K mode, pages 4,5 and 8 are saved. In SamRam mode, pages 4 to 8 are saved. In 128K mode, all pages from 3 to 10 are saved. Pentagon snapshots are very similar to 128K snapshots, while Scorpion snapshots have the 16 RAM pages saved in pages 3 to 18. There is no end marker.