I am new to gaming so please bear with me, though I have played previous two releases. I bought the 12 GB PS3 model and would like understand if its enough for installing.
Does the installation take any space (like in PC) apart from saved games?
A disk-based version requires 5.5Gb insallation, it's withing the space available on 12Gb version of PS3 (if you don't have other games installed of course). The PSN download size is around 15Gb so it's impossible to play it on 12Gb version of PS3 (unless you install a hard drive of course).