no it has cards they have specs on the e3 nintendo website, apparently they hold 2gig of data minimum?

GC/Wii level supposedly.  Probably a step up from PS2 in most respects then.

According to http://e3.nintendo.com/3ds/ 3DS will be able to play 3DS game cards as well as DS games. So no, it won't be digital only!

Thanks. I can sleep tonight.

Awesome!  I never had the chance to play that game.

Stop confusing polished graphics with power. MGS graphics look that way because they are polished and well placed not because they are powerful. Also the characters are more modeled than the environment. The graphics seem to be closer to the PSP than GC/Wii/360/PS2. Good pics. I'm really interested in seeing some of the games from the 3DS.

Keep in mind to make the 3D effect work, the 3DS chipset needs to render everything twice from slightly different angles.  In essence what you seeing here would be like GC/PS2/Wii/Xbox rendering something in splitscreen quality wise.

After looking at the pics, I concur.  The 3DS looks as capable as the PSP in terms of graphics.  The one thing that sucks about that is it suffers from the same jaggies.  It still will be interesting to see these games in 3-D without glasses, though.  I just hope we don't have A LOT of people skewing the 3DS's graphical power as being close to Wii, as some of the rumors were saying.  Some even saying PS3/360. 

And not trying  to deminish the 3DS at all, but it would be kinda cool if Sony can put out a PSP2 at some time that would be equal to the original X-Box.

Is it a copy of Snake Eater, though? It looked like a spinoff, but god only knows what is an enhanced remake and a spinoff with Kojima

I thought it was the screen that gave the illusion of 3-D.  Or is it the screen in conjunction with the game?  If the latter is the case, then I guess what you said would be correct and quite impressive for a handheld.  Either way, the end result appears to be on the same level as the PSP graphics-wise.