Why? By the time you add external RAM to an Arduino, you're looking at a system cost comparable to one of the microprocessor-based boards (Beaglebone, Raspberry Pi, Xmega-A1 Xplained) that already includes RAM (typically, quite substantial amounts of RAM. The XPlained, with 8MByte is the smallest.)
I'm not adding it to an Arduino per se - but rather I've been working on my own board as part of a project for the last 3 months using an ATMega1284, but it's got to the point where I've run out of I/O (I have port expanders yes, but I can't see me activating another SPI chips' SS pin using the port expander) I'd also like more interrupts, not pin change interrupts. Changing to a larger AVR seems like a much more realistic option than throwing away the last three months and starting again. I'd also like to retain the ability to use the Arduino IDE for a while...
8 bit AVR is my first experience with micros, so I don't fancy jumping on the bandwagon of microprocessors just yet - i'll stick with controllers. Plus, I don't see the educational benefit of buying ready made hardware...
As for cost, an external RAM chip only costs a couple of £s or $s, depending which side of the ocean you're on!
