No optical drive?
In the first 2 pictures there is an eject button and an optical drive slot similar to the PS3 or Wii's.
As to the idea of a SSD cart system, I'm not buying it. Using flash media, like Sony and Nintendo do with the Vita and 3DS/DS seems to be much more profitable. Plus all the games would become bulky and difficult to ship/transport if it went the form of a cart.
I can believe the idea of Microsoft doing Digital Downloads and streaming for all their games, I just don't know how much parents and the consumer market is going to support it at this time (we all remember Onlive, right?). Plus many publishers are aware of how much they increase sales by in store advertising in places like Gamestop (just look at Borderlands, 2K openly admits the game wouldn't have done as well with out them) so this would be a HUGE blow to all but their largest (read: AAA) titles. Finally, many people are not going to want to pay a service fee (Xbox Live Gold) after buying their games just to play them.
Personally, I don't buy it. The first 2 pictures showing optical drives is enough for me not to buy it