Just placed a reservation on one of these babies! =D Cant wait to get my hands on it tomorrow!
@ Grandmastersexsay - Apparently the reason why Google dont include expandible storage on thier devices is because it is too confusing for the user. Silly I know, but still. Also Google are trying to push users to invest in Cloud based storage solutions. Considering how cheap the Nexus 7 is, you can be pretty sure that next to no profit is being made on each device sold, however the money will be made by users purchasing cloud storage and other Google services, such as the magazine subscriptions and movie rentals.
Personally I just keep a 32gb memory stick handy and plug it into the device using a micro-USB to female USB cable. I keep all my movies and pics on there. That leaves plenty of space free for Apps and whatnot. Another thing I do, which is probably not something the average user would do, is to root my device and uninstall all the 'bloatware', as this not only free's up storage but also prolongs the battery life, as there are less services running. You can even take it up to the next level by disabling all uneccesary services altogether. =)