Where does the PS3 Firmware get stored??

Do the Ps3 Firmware updates get installed to a onboard flash chip like the psp? If so, how big is the onboard flash on PS3? I know the psp has only 32mb onboard flash 0 and a flash 1

but how big is the nand chip?

would this mean that when you installing the new update, and some how out no where there is a circuit break or black out causing the PS3 to turn off while it was installing the udate......... does this mean bye bye PS3?aka_aj03

its only 128mb? i was expecting 512mb or something? How will they fit so many features in that small flash chip in the future? ive seen the psp's flash and it only has like 2mb free out of 32mb? It's almost full already? Does sony have to find strategy's of compression or something?