In the Java runtime, if my application frees memory, does the runtime release the memory back to the OS? Or just back to my process?
Back to the process first, but also could go back to the OS in the end. Memory allocated by the GC is in a big contiguous chunk (the heap) or set of chunks, and GC "freeing" simply frees up the allocation in the heap, but not necessarily back to the OS. Once the GC compacts, it may be possible for the VM to return some memory to the OS.
The GC wants to hold on to a certain amount of space so it can quickly service future "new" requests for memory. So GC makes requests to the OS for memory in large segments, as seldom as possible.