hi mf, firstly if you are going to use physx forget about all the BODY* stuff. NxActor is the way to go.
if your not useing physx, and just useing 3Impact standard functions then you can call body functions.
as for create from memory, I haven't seen any speed benefit at all from memory functions at least with an old test i did with skinmeshes (which is somewhere on the forums you 'll have to search for it) and bodies load very fast anyway. I myself haven't used the body memory functions but I dare say would be similar to the skinmesh except without haveing to worry about textures.
if you hunt down create skinmesh from memory on the forums that will be your best resource, it was many moons ago scince I thought about useing them

and I can't remember exactly, there was also a a bit of code exaviour did for loading a mesh from memory which looked useful aswell. so hunting that one down aswell might be helpful.