Playstation will have a predownload but nothing announced yet for the Xbox platforms. Launch day downloads are likely to be insanely long due to many people going that way. Plus, not everyone will even be able to play after they have the game until Bungie's servers go live at midnight their time (3am for me). Better off with the copy in hand I would imagine, as the download times may wind up crazy long.
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My thoughts exactly, I expect a few gig patch with hard copy install but that's not that bad, those full DLs will be crazy though