Oh, geez... I was hoping this wouldn't really blow up out of proportion. The last thing I wanted was for all that to really make a big fuss on a dozen other forums.
When I say "disappointing", I mean that in respect to everything that was promised. If you're expecting realtime CG, I have my doubts. That is, unless displaced subdivision surface support in hardware is actually going to be there, which is still very much up in the air, and even then, the problem becomes not the polygon count, but the ability to apply complex shaders on the darn things. Even otherwise, early games won't be close to the limits of its power on any of the consoles. We won't see what final hardware looks like until very very short notice prior to the console's release. Nowhere near enough time to try adjust and optimize and try to push the limits of the console. That's why everybody says at least for their first next-gen games, they're not going to shoot higher than 30 fps. As for those few that said 30 fps for good, I really don't know. They're probably just being pessimistic. But then, the only studio I visited that was optimistic about Xbox2 happened to conveniently be located in Seattle.
Also, for that 10 MB of eDRAM -- consider 1920x1080, which is about 2 megapixels... 2 mpix * (4 (32-bit frame buffer) + 4 (32-bit Z-buffer) + 1 (8-bit Stencil)) = ~17.79 MB. Yes it is supposed to hold frame buffer, Z-buffer, and stencil, from what I'm told. You could hold it all at 720p, at least. MS did say that they want developers to at least support 720p (meaning we don't necessarily have to support 1080i, but 720p is apparently a requirement).
The other meaning I have as far as disappointment goes is the fact that up until this time, all my expectations on Xbox2, PS3, and NRev have all been on a sort of underestimation in hopes that the real thing will be far above what I say. At least that way, my being wrong would be a good thing. In Xbox2's case, though, compared to the other two, we're hearing more things now. Although they keep changing from day to day, nothing I've heard has really exceeded my presumably underestimated expectations. The only things I haven't heard about are system bandwidth and the GPU's specs. I don't expect anything incredible, though. Even 4-5x the system bandwidth of a PC is really not good enough -- and I mean that in the sense that the system bandwidth on a PC is god-awful.