Comment 1 for bug 202038

<seb128> cjwatson: well, I'm not sure how network-manager will react when trying to store the passphrase in gnome-keyring if gnome-keyring is not running, I didn't try that
<seb128> cjwatson: same for evolution (or other applications using gnome-keyring)
<seb128> cjwatson: you can try, but I would not be surprised if those display errors if gnome-keyring is not working

Actually, while there may be a memory benefit to disabling it, I actually think this is one of the more useful things to run on the live CD. A fairly common use of live CDs is when you're in an untrusted environment and want an SSH client or similar; you can boot from your trusted media and be safe at least from software malice (although a keylogger could still catch you out; it depends on the level of risk involved). In that situation, it seems to me that gnome-keyring-manager might be quite useful.