If manufacturers would stop removing the SD card slots we might already be at that point. What do you consider a "full" copy of OSM and how big is that?
The offline maps like Osmand and whatnot elide a bunch of data and include indexes, and last I did the arithmetic, were in the vicinity of 50 GB. Numbers here:
Agree, that's uncompressed and with all of the required scaffolding. I would still argue that in the next few years, you'll be able to carry an entirely functional OSM system around with you, tile cache and all (Samsung is predicting 128TB SSDs by 2018).