Since the 360's regular HDD only has 13GB of actual storage space, this tops it.

Sony Announce 16GB Memory Stick For PSP

Be aware it's $300, so that with the PSP would cost as much as the 360 elite, but you don't have to worry about RRoD. 

That's good to know.

LOL PSP FTW!!!!!!!!

Think about how may PSP games you could buy for $300.... oh wait. :S

That could be more constructive. 

Wow! 16 GB Memory Stick Pro...... Great for storage but....What's the price? The 8 GB cost $119.99. Do I want to pay $169 for a PSP and spend an additional $300 for the 16 GB memory stick? I don't think I want to do that.

Sony needs to lower the prices on their Memory Sticks. Most other flash memory formats have SD, XD, etc have all lowered in price.

Plus, why does everything Sony have to go against MS?

More storage on anything = even more crap you collect but never look at or listen to.

Home recorded cassettes, taped from tv video tapes, hi-8 camcorder tapes, recordable cds, recordable dvds, hard disk drives, memory cards, and to come...... recordable Blu-Ray and HD DVD.

More capacity just means no need to bother deleting all the pointless crap you previously stored.

 Well one thing it will be great for is if they can get the PSN service kicking a bit :D, the fact that I can save all of the "PS1 classics" to my PS3, play them there, then copy the game and or save files over to my PSP, and play them there is friggin awesome. If I could start downloading cheaper PSP titles on the PSN I'd be uber pleased :D  My biggest gripe so far with the PSP is it's damn software costs >< $40 for a new handheld game????? F*ck that >< I just got some awesome PS1 games (which look pretty damn cool on the PSP for some reason) for $4!

In a year it will be ~ 150 $ ... thats half the price ... in 2 years it will drop way below 100$ :)

And people say Sony doesn't encourage pirating on the PSP.