Joel had a few questions and found some answers, thinking others might feel the same way he forwarded this observations on to us:

I've been asking myself some questions on how DLP worked, specifically with the storage of the film works. I got my questions answered, and found a few more news worthy details. (from the DLP Website)

Data Storage and Playback: The picture information is normally compressed and stored using a QuBit compression system produced by QuVis of Topeka, KS. The QuBit uses proprietary wavelet compression technology with a user selectable SNR. The compressed data is stored on four computer HD drives with a total capacity of 72 Gbytes. Other playback servers based on MPEG2 compression have also been used for a limited number of digital releases.

After reading that, I went to QuVis and found a press release on the subject as well.