Very informative and even handed guide! Rep+
Anyone who found it interesting may like to look at this article:
Some of the info is a little outdated (it was written shortly before the 360 was released) but it is, for the most part, still relevant and very detailed so could probably be used to add to the guide.
It might also be worth mentioning that some games are actually starting to take advantage of the increased capacity of Blu-Ray;
- Resistance: Fall of Man uses 16GB of space on the disk.
- Warhawk is planned to be packed with HD demos, interviews, trailers etc. on the same disk. Source
- The PS3 version of Stranglehold will be bundled with a HD version of the movie Stranglehold again on the same disk. Source
Admittedly only one of those is an example of an actual game requiring more than a standard DVD, and it was probably under a bit of pressure from Sony considering it was pretty much the PS3's poster child at launch.
As for the speed of the Blu-ray drives (2x Blu-ray vs 12x DVD), thanks to the HDD in all PS3s, games (Oblivion for instance) can pre-install parts of the game to the HDD for even faster access than the 360's DVD drive.
Also worth a mention is that Dan Houser said that the lack of HDD's in some 360s and the capacity of DVDs is a limiting factor in GTA IV's development
This isn't really relevant to the games, but Blu-Rays are damnably near indestructible
Well, theres my take on Blu-ray.