For the RAM check the best and easiest thing to do is to use CT60's ram check -- read the hypertext how to do it. I found myself one damaged RAM in this way.
About MagiC: it runs at 060, really :) Just try to remove everything from C:, install MagiC, apply patch and you'll see.
I have no experience with CAF but I believe there is a lot of musicians who succeed with running it, try to ask at dhs forum..
After some experiences you'll find ct60 damn cool piece of hardware, you'll never switch back! Incredible speed and everything :) Especially with motherboard clocked at 25/50 MHz.