The hard drive is where all that data comes from, it's the biggest bottleneck in any gaming system, yet people always ignore it in favor of video cards, CPU, and RAM - all of which will have to wait until the hard drive sends them the data before they can show off their speed.
That depends on the games engine and how efficient it at utilizing system resources (RAM for one thing). In other words with most up to date games out there, storage performance (hard drive performance) is not issue and if the game engine is that dependent on storage performance then by today’s standards it's pretty much considered unacceptable.