What if you had to choose between 1GB of very fast VRAM and 6GB of DDR3 (CPU) or 2GB total fast UMA.
hmm...So basically 4x2Gbit GDDR5 + 12x4Gbit DDR3 (8Gbit exists, though you'll have even slower speeds), which implies a 128-bit GDDR5 bus (64-bit in clamshell) + 192-bit DDR3.
Hypothetically speaking, that gives us around 80GB/s for GDDR5 @ 5Gb/s. If you want to start pushing the memory bus design i.e. fatter memory bus (due to accommodating the electrical issues at higher frequency), you could go for 6Gb/s or 96GB/s on the 128-bit bus. Of course, 192-bit 1600MHz DDR3 gives us 38.4GB/s (higher speeds might be available with 4Gbit by then, but this is ballpark).
Alternatively, you could have 8x1Gb GDDR5 which will allow you to have a 256-bit bus, though now you're increasing the number of chips. You'll need a fair bit of area on the mobo if you want to keep the number of PCB layers down. I mean... If you do want to minimize motherboard size by packing the memory chips closely together, you'll need more layers, but then it's a waste considering this is the only region of the entire board making use of said layers. You're practically making a PC graphics card at that point, but with enormous waste considering the rest of the motherboard components.
16 chips surrounding an SoC is probably not that awful (not ideal, see below)- 8 chips per motherboard side, 2 chips per side of the chip at a distance similar to what's observed on 360. At that point, why bother splitting the RAM and just go for a unified 4GB of GDDR5? The bus could be 256-bit with clamshell mode (512-bit would make the minimum die size lol-huge. At least with 256-bit, you could still make a larger chip, but allow for reductions over time more easily). Won't need edram to save the day either.
Mind you, in such a packed scenario, the dev kits would either have to be limited to the same memory configuration (just like 360 dev kits until years later when higher density chips became affordable), or they would have to have lol-spensive dev kits that don't resemble the retail unit at all. i.e. it's not lumped together in the same manufacturing line, has considerably more expensive design to accommodate double the RAM etc. If you think about it, the main difference between retail and dev kit units is the amount of RAM. For the current 360 dev kits, that's the difference between four and eight 1Gbit chips. The rest of the manufacturing is exactly the same. Well... there's the funky HDD, but that is a physical add-on.
Decisions, decisions...
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Short version: too many variables and trade-offs for design and cost, and even performance. This really isn't as simple as many forum folk would like to believe.
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I think it'd be funny if they allocated a single 4Gbit DDR3 chip just for the OS.