1. It should be around the same. I believe ~19 or so gigabytes as the other poster stated? I'd check mine but sold it in anticipation of the 2.
2. I too ran off the Micro SD- seems fine. You can also try the USB which I'm almost certain would be quicker.
3. Not that I can recall.
4. Unsure yet since I think only Phawx could really answer that without having it.
5. The Win 1 was a great UMPC. Everything I wanted from a pocketable PC. Obviously though, as we are intending these to be gaming devices, we want more power. I see a lot of people mention Raven Ridge and other AMD based APU chips, but these definitely have less IPC and CPU power than comparable Intel units, which would be a fine line. Yes, you want more GPU power for Steam games, but emulation is more CPU based for the most part. I think the M3 strikes a nice balance of the two. Hopefully one day we might see a really high priced i5 or i7 variant that has the built in 64MB of eDRAM - I think without some serious bulking up or crazy cooling options that's the best we could ever hope for. And even then, that's 15w and not likely. For the most part the Win 2 addresses the more power issue well. Eventually a quad core 8th or 9th gen Intel part w/ lower wattage could help further too. Hopefully some day GPD can go crazy and try to jam a MX150 in there, but that's probably not going to happen as at the very least we'd need another fan.