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The Fit can barely run 2.3, based on the 160MB of storage available, and 280MB of RAM isn't going to run any large apps. You could probably repartition it to fit ICS into it, but it probably wouldn't be able to run anything (not enough RAM and no spare storage). It's like asking how many tons a Mini Cooper can pull - quite a lot if you don't mind a top speed of 2mph.
 
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