That's about what I expected, to be honest. I knew both consoles had BD drives this generation, and a single layer BD holds 25GB, a dual layer 50GB. I figured they would be at least around 25GB in size. Now I'll assume 50GB.
I was only wanting to have up to maybe 6 or so games installed at a time, and at launch it will only be 2 or 3, so that won't really hurt me, I don't think. I've been playing on a 360 that only had 20GB of total memory up to now, so this will seem like tons and tons of room to me.

If the hard drive is literally 500GB, that means there is likely about 450GB actually available, less whatever space the default operating system and apps take up, so it'll be tight but I think I can still have about 5 to 7 games installed at once.
The way I game, that'll be plenty, I think. I'll keep whatever is hot at the time installed, and when I know I've reached a stopping point with something, it'll be first up to be deleted when something new comes along. I'll rotate games out.
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