Dynamic Linking & Memory usage

I'm wondering if there is a signficant advantage to using dynamic link libraries to reduce the memory footprint of a program? So far I have about 10-12 functions I only call very rarely that are approximately 3500 lines of code combined, and I need to know if it is worth putting this into a DLL to reduce the program's size in memory. I know that DLLs will definately decrease the size of the binary file itself, but would like to know the effect of dynamic linking on a programs memory usage (i.e. will calling the dynamic linking function take up more time/memory than had I just included it into the binary file in the first place?)

It'll take more time and more space. Probably not much more, but it won't be less.

Dynamic linking is for if you want some set of functions that are easily replacable, or shared between more than one executable. Programming libraries are usually DLLs since they have a separate programmer(s), and can then (hopefully) be updated by just replacing the DLL. (That, and license restrictions sometimes prevent static linking.) The other use for DLLs is plugins. (All of WinAmp's plugins are DLLs, for example.)
If the code in question is used only by one executable, then there's probably not much point in a DLL.

Ok thanks, that's what I needed to know.