Xbox 360 with no hard drive

What are the disadvantages of having no hard-drive in an xbox 360?
Do games have more load-times or something?

No, it doesn't affect load times. It means you need a memory card ( or several ) to save games, and it means you can't download demos, videos and casual games from XBox Live Arcade.

Load times can be affected by having a harddrive depending on the game, quite a few of them support cacheing last I checked.

Really? Huh, I had no idea. Well then apologies for my misinformation.

You need a hard drive to run xbox games on the 360.

You need a hardrive to allow games to be patched too, this can make it so you can't play games online without one.