How much storage is 32GB exactly? The answer is that it is relative. If you try to apply the worth of 32GB on one video game system to another, the result is not necessarily accurate. In fact, more likely than not, it's going to be wrong.
Sharing my personal experience with storage:
I bought a 32GB SD card for my 3DS once the 2GB SD card that came with the system had been pushed over its limit. The 3DS has the habit of converting storage into blocks, rather than using values like KB, MB and GB. 32GB roughly equate to 250,000 blocks and with over 50 games and about a dozen demos stored on it, I still have 190,000 blocks left; that's about 25GB of free space.
On my Wii U, where not all of the 32GB are available to the user (some GB are reserved for the OS), the situation is less pleasant. About 8GB left after downloading roughly ten games and an about equal amount of demos. Of course that makes you wonder where the space goes. And here's the kicker: A game like The Legend of Zelda: The Wind Waker HD takes up less space than a game like Child of Light. On one hand you have a full game with a big world and countless things to do, on the other hand you have an RPG that struggles to reach the ten hour mark (despite turnbased battles that crank up the playtime).
Legend11 correctly predicted that GTA IV (360+PS3) would outsell SSBB. I was wrong.
Biased reviews are a pleasure to read. Just my opinion, of course.