exactly!, its not just the limitations, they scale the whole game down so it can run on the HD-DVD's, which is a shame because then you can't expect to really push the console's ability to its limits (especially the PS3), and the idea of having more then one disc seems too retro man :p, I remember that my Metal Gear Substance (continuation of Sons of Liberty) came in 7 friggin' discs! (PC Platform), and if done so with the MGS-4 then it will be quite a handful more expensive aswell.
to the topic:-
I don't think Konami will ever give up any of there game titles to Microsoft, Konami is all for sony .... well it use to be that way, but I think if this happens, PS3 fans will be pretty pissed, personally I wouldn't want it to happen either.
Actually there are many Konami games on XBox 360, e.g. Silent Hill V. There are also several XBox Live Arcade games, so Konami is not exclusive to Sony now, nor were they even in the last generation. They had released a few games for the original XBox. The state of the industry now is that the games cost a lot more to develop. At this point in time, the XBox 360 has a greater user base than the PS3. So the XBox 360 is a good place to put your games (for any publisher) since it has a greater chance to reach a wider audience. PS3 is not the PS2, which destroyed its competition. Though the PS2 was more complicated to develop for, its huge user base gave developers/publishers enough incentive to keep their games exclusive to the platform.