This means an ICS install would be severely limited by the hardware (I think a full ICS install is significantly bigger). Modders might be able to put ICS on it by cutting apps and features, or doing other kinds of hacks to extend the internal storage, but for Google that just wasn't worth it.
I would really blame HTC for this. Pretty much all of their phones throughout 2010 were like that. It was my main frustration with HTC at the time, another one being the weak Adreno 200 GPU.
"Future Proofing" a phone is difficult, because a manufacture needs to overspec the phone whilst still keeping it at a reasonable price.
HTC is notorious for underspecing storage on their phones. Other manufactures do not have the same problem.
Example issues:
* Random reboots
* Choppy playback in the Music app
(Amazon MP3 worked fine)
* Random app crashes, particularly
games (possibly due to lack of official
4.0 support)
* Poor GPS performance, occasionally taking
15-20 minutes to acquire a position (typically
solved more quickly by rebooting, but it takes
several minutes to know there's a problem in the
first place)
It's difficult to blame the app crashes on the OS if the app doesn't claim to officially support 4.0, but that's still reason enough to wait.I'm eagerly awaiting the day that CM9 is released, or MIUI releases their official 4.0 version, but until then I think it's better to stick with what works.
Edit: Formatting.
http://forum.xda-developers.com/showthread.php?t=1364221
In my experience, the stability and performance of various peripherals like GPS and the WiMax radio are about as good as the stock 2.3 ROM. I haven't even noticed a change in battery drain...