Max server memory settings take effect immediately, no restart necessary.
Some stuff on memory - http://www.simple-talk.com/books/sql-books/troubleshooting-sql-server-a-guide-for-the-accidental-dba/ chapter 3
Gail Shaw
Microsoft Certified Master: SQL Server, MVP, M.Sc (Comp Sci)
SQL In The Wild: Discussions on DB performance with occasional diversions into recoverability