One word: Solid state storage.
Okay, it's 3 words. But the technology that will eliminate load times is certainly under development
Solid state will do absolutely zero to stop loading times.
Firstly it still has to move from storage to main memory and that will never be instant. Secondly size of game will always be larger than we have available capacity wise in a suitable cost to not have things compressed. Uncompressing game data is what takes most of the time so far, loading is not really an issue at all.
Check anandtech, they reviewed the 1tb hitachi drive which is pretty damn fast and when defragged you have fairly smooth game loading, against a raptor, it also included both the raptor's in raid 0 and 1tb's in raid 0. The overall effect on game loading despite 70-80% performance increase, 2-5% depending on game. Its decompressing data that is the issue and ALWAYS will be.
AS we get bigger and faster drives that may even be capable of storing games decompressed there will be several issues. Firstly, decompressed data is larger, so you have more to transfer, so compressed, faster transfer, but decompression stage takes time, or decompressed, takes longer to transfer. Then you have the issue that, in 10 years when we have fairly fast uber large hard drives, we'll still have system memory that is 20 times as fast and CPU's that are 50x times faster than now. At that point a game made to utilize the memory and cpu speed will still be more complex again than current games, etc, etc, etc.
While technology moves forward so does the software so there will not be a major difference from now, if it doesn't who would want to play current games on tech from 10 years in the future, just so it loads in half a second?