The capability of the Random Access Machine (RAM) to execute any instruction in constant time is not realizable, due to fundamental physical constraints on the minimum size of devices and on the maximum speed of signals. This work explores how well the ideal RAM performance can be approximated, for significant classes of computations, by machines whose building blocks have constant size and are connected at a constant distance. A novel memory structure is proposed, which is pipelined (can accept a new request at each cycle) and hierarchical, exhibiting optimal latency a(x) = O(x1/d) to address x, in d-dimensional realizations. In spite of block-transfer or other memory-pipeline capabilities, a number of previous machine models do n...