The 360 GPU was ~ 180 mm^2, the CPU a touch smaller. I don't know how big the CGPU in Valhalla is, but it's probably under 200 mm^2. At no point has a "big chip" been the answer to MS's technical or cost issues and you would expect there to be a reason for that.
G71 was a shrink and tweak of G70, which was 334 mm2 and therefore utterly dwarfed Xenos. X1800XT was also much bigger as you say (288 mm2 vs 180 mm2) and the x1900XT which came out a few months later was ~ 350 mm2. Xenos really wasn't a big chip by enthusiast standards even in 2005/2006. MS could have gone much bigger but they didn't.
I doubt that adding the area of two chips together can simply give you a total die area that you can "spend" as you see fit next generation for the same cost, and so I don't see "Xenos + daughter die = PC GPU XXXX" as actually having any meaning.
The 360 GPU was not 180 MM^2, we covered that. Figure perhaps 200, 260 with EDRAM. A design without EDRAM (possible imo) therefore could allocate 260 if we constrain exactly to Xenos. RSX was 240 with no EDRAM.
Adding the area doesn't, we obviously have no idea what the manufacturers are up too, they could decided to spend less, they could decide to spend more, imo they will shift more silicon to the GPU this time. If they have a bigger budget plus more of the balance to the GPU than it could be quite bigger, If not it might be smaller. We can look to the beginning of this gen for whats reasonable and possible for sure.
I also point out top end PC GPU's have gotten bigger, so consoles may be expected to follow. Or, they might not. Just that it's plausible the limits last time may be greater this time.
so I don't see "Xenos + daughter die = PC GPU XXXX" as actually having any meaning.
You're the one who brought it up. I dont see how it doesnt have some meaning. Of course we're just speculating in extreme generalities as thats all we can do at this point.
I don't know how big the CGPU in Valhalla is, but it's probably under 200 mm^2.
Two nodes later doesn't have any bearing on a hypothetical starting limit. Whatever we start at will get shrunk accordingly later.