That 32gb eMMC storage is an odd choice, it’s a sub $20 part, and given we have 20gb storage available, isn’t configured in its pSLC mode, so it’s a TLC NAND, just like what you’d find in a 32gb Kingston SD card.
Fingers crossed this won’t be a future common failure part given people are likely going to want to fill that 20gb with long stereo files 
A full 400mb project is likely going to take 8-10 seconds to read from this part into the RAM at its average read speed of 52mb/s - probably quick enough, but still a pause if you are planning to play sets from different projects.
Thanks for these photos!