If I recall correctly, malloc actually
calls an OS specific function
Not quite. Most hardware has a 4KB page size. Operating systems generally don't expose a memory allocation interface offering anything smaller than page-sized (and page-aligned) chunks.
malloc spends most of its time managing the virtual memory space that has already been allocated, and only occasionally requests more memory from the OS (obviously this depends on the size of the items you allocate and how often you free).
There is a common misconception that when you free something it is immediately returned to the operating system. While this sometimes occurs (particularly for larger memory blocks) it is generally the case that freed memory remains allocated to the process and can then be re-used by later mallocs.
So most of the work is in bookkeeping of already-allocated virtual space. Allocation strategies can have many aims, such as fast operation, low memory wastage, good locality, space for dynamic growth (e.g. realloc) and so on.
If you know more about your pattern of memory allocation and release, you can optimise malloc and free for your usage patterns or provide a more extensive interface.
For instance, you may be allocating lots of equal-sized objects, which may change the optimal allocation parameters. Or you may always free large amounts of objects at once, in which case you don't want free to be doing fancy things.
Have a look at memory pools and obstacks.
answered 2011-01-16T04:40:26.007