i don't see why people don't get over the no hdd thing when it was said that they are looking into alternatives to the hdd. if you take this the way i do, there will definately be some type of storage on the xbox. you will therefore have gamesaves with no mem card, cache space, soundtracks, dl content, etc. but rather than being on a traditional hdd, it will be on something like one of those ibm micro drives or a huge ass flash drive or something, they currently have storage smaller than 2"x2" that holds over 4 gigs, i'm pretty sure that within 2 years they could get more space out of that. a huge flash memory seems like the best/cheapest/smallest bet though.
there are supposed pictures of the ps3 floating aROUND. from what i've seen it's goofy as hell. as far as anything else goes, xbox next is barely in an alpha stage right now and nintendo seems to think that by the end of 2005 they couldn't have any system that would be a significant upgrade to what they already have. this also however what they thought about their original NES. they figured it was good enough and they would keep dominating the market with it. this was until the genisis game out and nintendo cranked out a new system within several weeks that ended up competing with the genisis/megadrive like nothing.
in another 10 months maybe people will be able to speculate about the systems better than they currently are. until then there is not enough signifacant information