I'm with the AC
Why would you need all that space? Seriously? I bought an Elite to get the smaller chip/black box. Downloaded a couple of shows (Robot Chicken Star Wars), a couple of videos, tons of saved games, got a couple of the downloadable maps, an Xbox original game... And I still haven't used 10gb. So I have about 100 gigs of space sitting idle. As for other content... I use my box as a media extender, but I have a server with TONS more space... so I just stream via ORB to ANYWHERE in the house, world. Why store it all on a proprietary machine? PS3 or Xbox? About the only use I can see for a HD of that size is if Xbox Live starts offering Pron that isn't a rental... Then it might fill up rather quickly. Or if the game discs become huge zip repositories and the game needs to unload and install on the HD like PCs... Then maybe...
As for the Console Wars... Both Sony and MS are huge, evil empires. Both insist on proprietary formats, do everything they can to control the marketplace, and spend more time trying to stop copying than trying to innovate. Both sourced proprietary hardware, and when you consider the cost of a PATA HD, neither should probably come with one, rather should come with a hotswap slot and allow you to plug in your own... Or SATA, I don't care which.
Sony appears to be in a downcycle at the moment in my mind despite winning the BR-HDDVD wars. PS2 was amazing, wanted one from the day they came out, didn't get around to get one until 2007 when someone gave me theirs. PS2 4tw because they had the most games, the most versatility, and networked gaming and were first to market... Hmm... Xbox 360... Most games, most versatility, first to market...
I'll probably pick up a PS3 when I decide that I need some of my movies in HD, rather than upscaled 1080i...