32GB seems too small to be useful.
A basic Win7 install is ~22GB, and a 32GB drive will only yield about 29GB of usable space.
In my opinion, there is little to no need for a SSD in a gaming console.
I agree that 32gb is too small for a windows 7 install. You will fight it more than its worth. Usually these small SSD's are not that fast either.
I would go with a modified version 5. Put your page file and stuff like that on the msata drive if you decide to use it.
Vague questions receive vague answers . . . . . .