I don't think storage will be a major issue. While it would be nice to have sd card slot, these phones support USB OTG so you COULD plug in a 1TB USB HDD for those times when you want to watch a movie or something on the train/bus journey etc?
I think the main reason for the storage omission is that Google is very soon fully launching their cloud services for music and videos, the videos side has already launched on the Market and Google Music is soon due. If you could store media on your Cloud space that would be excellent.
Really? Only really viable with blanket wifi, or massive data allowances and if you live in a city. I have no viable way to access cloud storage even at my house.