The question itself is, if a change in the memory allocation (raise the allowed memory) will help in the long run.
It is not the first time the Map Feature page run into this kind of problems.
I don’t have a good knowledge about the wiki system backgrounds and how to avoid this problem. So my guess is we could try to simplify the site with your mentioned reduction of the {{Iconxxx}} templates. Furthermore we could get rid of the photo and rendering columns as this information can be found in the subpages that describes the tags more precisely.
Other than that we could separate the Map feature list from the wiki and show a complete list as simple html webpage instead. I wrote a small perl lib that is able to parse all available pages (Map Features, Key:xxx, Tag:key=value pages and categories etc) from the wiki and create a translated html version of the original Map Feature page.
My original intention was it to offer a xml based version for further usage of all known tags.
Only problem so far I never finished it since I’m a bit busy with my bachelor thesis right now.