How is the internal storage of the Galaxy S III allocated? I've noticed that Verizon offers 2 versions of the Galaxy S3: 16 GB and 32 GB. I'm trying to determine if it would be worthwhile to get the larger storage.

Is the device storage an extension of the primary device memory, or is it treated as a separate memory area that can only be used for data storage (similar to an SD card) but not for running programs?
Some site disassembling the Galaxy S III states a 16GB flash, seems to be the 16GB version. If that's true, I would imagine the 32GB version has a 32GB flash, that's an internal storage.

The tech is MoviNAND that's just work like an MMC card, but it is mounted as the internal storage for Samsung's devices.