While this is distressing news for those with smaller PS3 hard drives, we'd like to point out that the installation time is nowhere near as lengthy as the one found in Capcom's previous MT Framework game, Devil May Cry 4 (in other words, you won't have time to make a Jill sandwich while you wait). The installation makes the load times in Resident Evil 5 incredibly brief, to the point where most players will have trouble reading the text that appears during the load screen.
If you're running out of space on your hard drive, it might be time to delete Game Data off your system. Think about the games you may not play any more, such as DMC4, Fallout 3, or MGS4. If you know you're not going to play a certain game for a while, you can probably afford to delete it off your system. Stay tuned for our impressions of the full game.
[Thanks to everyone who sent this in!]