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I think I've heard about the reason why a lot of PS3 multiplat requires huge install, doesn't it have to do with the way the game access cache memory? The 360 access memory in huge chunks (and its ram is optimise for this) while the PS3 has less ram (due to os footprint) and they are parititioned to cpu/gpu usage further limiting availibility. It's design to access smaller chunks of data at a much more frequent interval.

Since the 360 simply cannot function in the latter manner, most multiplat games access memory in larger chunk which result in the PS3's slower reading speed being unable to keep up in some instances, thus the lazy developer's way out by installing part of the game onto the PS3 HDD...

Please feel free to correct me if I'm wrong, I think this was from random articles on the net which I only half remember.