Where the progress is happening in hardware
While everyone is getting excited about multicore systems, something else is happening:
I just ordered two new 500 GB drives to replace the failing and failed 250 GB drives. Both 500 GB drives cost almost exactly the same as one 250 GB drive did three years ago. That’s progress. (Source: Harold)
Not only are our computers able to do more things at once, they can also do it over much more data.
I own a couple of 500 GB drives with nothing on them. I could easily buy much more. I own a couple of multicore processors that are idle. If it were important, I could buy more machines too. I am sure most people are like me.
In some respect, we no longer have scarcity of storage and CPU cycles.
Montreal, Canada 
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I think you have to work to fill 500GB of personal storage. This means seeking out and downloading videos and music.
I expect that the lack of scarcity can be said of bandwidth for many people with broadband access. As well. It takes me months to generate as much traffic as I am allowed on a monthly basis.
Comment by Geoff Wozniak — 30/8/2007 @ 9:15
In fact, you can now get processing power for US$48/Gflop.
As far as filling 500GB is concerned, that’s not too difficult if you have a family and a digital camcorder. It’s probably something like 30 hours or so of raw video.
Comment by Michael Stiber — 4/9/2007 @ 22:29