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Better than 88MB vs. 512MB. I'd say. Anyways the PS2 had 32 MB and the XB had 64 MB, so proportionally - and theoretically - it is the same difference. How did PS2 multiplats stack up to the XB versions of the same games?

The biggest issue would be GPU, I think. Looks like the Wii-U will have some 400-500 GFLOPS while Orbis / Durango are supposedly going for 1.3-1.9 TFLOPS.