The minimap tiles in the MPQ's are pre-compressed with DXT1 - if you're using DirectX/OpenGL, you can place the image directly into graphics memory without decompression/recompression etc. etc.
All up, with the entirety of Northrend minimaps sitting on the GFX card, takes up ~170MB. With the images extracted and decompressed to ARGB, I believe memory usage was peaking at 1.5GB and lagging like a mofo.
Not to mention that the scaling is done on the card rather than the cpu, so zooming in/out are much faster redraws.
Guess it depends on what you want from the radar though, you may be able to get away with just loading 4 tiles and drawing those, dropping/loading new tiles when needed.