At runtime the images would be loaded into raw bitmap, which is what I want (PNG files are loaded into ARGB32 format.)
Runtime memory size if now what I am battling, but rather the build size. If I choose to have my atlases at uncompressed 16/32 bit, they are included like that in the build. What I am trying to achieve is including them as PNGs in the build and loading into a texture2d object at runtime, where they would be ARGB32.
According the the build report, the textures are taking up as much space in the build as is shown in the preview window.