You folks are speaking in absolutes when the issues here are subjective:
1. Inc 2? What was I wrong about?
2. Most consumers that buy devices from carriers have no clue about ADB or any other method to get around storage constraints (I do not like moving apps, since I swap cards and this is a problem if you do). 380mb is the lowest of any newer device, so not sure how that is a point for debate. Android framework is NOT sd heavy. In fact, Android team wanted nothing to do with apps2sd and have zapped it in Honeycomb (for dynamic internal storage). Android hated micro sd for security and stability reasons, but relented, since most devices had low internal storage space (Apple bought up most flash capacity for the iPhone at the time).
3. I doubt the NGP will be easy to root, so all of the great emulators and the VERY great TigerArcade (best arcade app for portable devices- ever) will not be options on the NGP... I will still buy one if they bring out a new Dead or Alive for it
For gamers that are not app ores' like me, the Xperia Play will ROCK real hard. I would gladly pay $200 for one- just for the gaming aspect. Besides the memory issue, another point is that I want the Netflix app on my next device. Until recently, I assumed that any Android device with the needed DRM keys and hardware (8655 does) would work with the Netflix app. Turns out the process is device specific and must be negotiated and paid for by the OEM of the device to use Netflix servers. The LG revolution is the only device so far to get approval (LG paid Netflix).
Heck, who knows. If the Play were to somehow get Netflix, I might STILL buy one as a phone, due to the sweet gamepad and my irrational love for TigerArcade, which does NOT scale correctly on Honeycomb and my Iconia
Added: I tether my iPod 4 with my Incredible using 3G and the Netflix app works well, so no 4G should not be an issue on the Play, for Netflix.