"eliminate loading times between levels"
I think it's a bit premature to announce that, Microsoft. You have no idea how game developers can bog down a top-of-the-line system with the latest titles.
There's a simple rule of thumb actually : a new game will require 180% of the resources your high-power gear has. It's only three years later that that year's high-level gear will be able to run said game properly.
Also, sometimes loading time can actually be used intelligently and be a valid part of the gaming experience.