Seems that EA have really screwed up the 1.01 patch for BF2.
Taken from hereHOTFIX for Battlefield 2 v1.01 Coming Soon
First off, a HUGE thanks to all of you who emailed me in regards to the memory leak found in the update we released earlier this week (v1.01). Your emails found their way to our production team and they’re in the process of evaluating what needs to be done in order to get this fixed. In the meantime, and since the 1.01 update is causing memory leakage on some systems, we recommend that you reinstall the game and NOT the v1.01 update we released earlier this week.
Looks like a re-install for those who've installed it. All EA servers have been rolled back already, so that also means that all the ranked servers have had the same treatment.