A system-level save strategy? Wouldn't that require games to have particular structures to have the restore work the system-approved way? And would that be any faster than existing save/restore methods? Take an offensive long-loader like Witcher 3. What is it doing that's taking so long? Part will be loading assets perhaps with dreadful seek times, which'll be solved with the next-gen storage. The rest will be world reconstruction. I don't see how a system-level save could be suitable for this for all games and faster than whatever the games are doing already. You'd have to somehow tag memory as whether it's a persistent file or volatile construct, and dump the constructs, and restore the two including pointers to all their memory addresses.
I'm sure a system could be devised, but it strikes me as a lot of work, perhaps hideously constraining on game design, and not really worth it. SD cards are moving towards 4 GB/s and beyond. In a few years, we can probably pick these up cheap and swap games back and forth on internal SSD without too much bother. I think this is one of those cases where it's actually okay to let the hardware do all the work.