That is indeed it. If you notice, you have 32Mb of video Ram available on a via chipset. Typically the Via chipset is an onboard video adapter using an AGP bus that is internal to the southbridge. Via is a Chipset/motherboard vendor that makes quite a few chipsets as well as lower end proc's, etc.
The IDX family by intel will often show shared memory as well through the Windows abstraction layers, allowing you to run larger footprint apps as long as enough Ram is available. Unfortunately I do not think you will be able to run SGDK2 with that little video Ram.
What is you Mobo vendor? Do you have a PCI-E or AGP slot on the Mobo?