It looks like Rockstar's next installment in the GTA series will take up about 8GB of space on your hard drive as well.
Other questions answered during the session included:
Will we see actual gameplay? "Yes. Soon (or in September if you don’t want to see it before you play it… it’s up to you) – the first Official Gameplay Video is on its way.."
What about multiplayer? "It’s called Grand Theft Auto Online and we’re very excited to unveil it for you sometime this summer."
"For Xbox 360, Grand Theft Auto V will ship on two discs; Disc 1 will be used for a one-time mandatory install and Disc 2 will be used to play the game. After the install, players will be able to enjoy both Grand Theft Auto V and Grand Theft Auto Online without any need to switch discs."
So there you have it. More waiting. Head over to Rockstar's main site to read the rest of the Ask and Answer session.