Pretty sure PS4 will require mandatory full installs. Sony would be stupid to allow streaming games of a BD disk at this point.
Every PS4 SKU will come with at least a 500GB HDD.
This. After all, you've got to have somewhere to download your 100GB+ 4K movies to!
Sony already stated there is a separate processor, so the waste is already present.
Fast SSDs already have multicore ARM processors that manage their own RAM, run their own firmware, and handle very fast data transfers and storage management. Aside from giving the controller the ability to interface with the networking hardware, they do a decent amount all on their own.
There are ARM9 variants in SSDs, and ARM9 variants in networked media devices, hence why I wondered if the storage controller could do double duty.
I'm uncertain as to how tightly interconnected the x86 side and ARM side would be. The x86 side would try to avoid too many system calls that involve the ARM since that would increase the time it takes to peform OS calls, and they wouldn't handle memory or paging in the same way.
The exception would be traffic typical of what would come from writing to disk or the network, since there's frequently an ARM chip operating with its own little embedded system on the other end of those transactions anyway. That's a bit more stand-off than running shared OS routines.
This bit here is strange -- I mean, the mysterious companion chip.
For one, for instant wake-up, they must keep some parts of the main chip alive to refresh the RAM (or does it have self-refresh?), or else we'll suffer for ~80s while the beast fills the 8GB RAM from the hard disk at 100MB/s.
For another, an ARM core can be so small that nobody will find it mixed in with the Jaguar and GCN cores (rumors have it that Trinity has one on-chip, although not-currently-used, and nobody found out from the chip's shots).
This means the "mysterious chip sauce" could be embedded in the main chip, just power off the CPU & GPU cores, keep the memory controller live to refresh the RAM but power down the links when not used, would have access to the RAM and disk/network if it's integrated or via the southbridge link, etc. And it could double as the security processor, too, and HSA would marry everything together harmoniously.
File system access could also be regulated by this "core" too, to avoid corruption, etc (kind of like NFS, i.e., a remote file system access protocol).