An answer has been found. http://kotaku.com/gaming/xbla/castlevania-breaks-xbla-50-mb-limit-228214.php It does break the 50MB limit but is less then 100MB.
There is however still a 50mb limit, although they do make exceptions if there is reason to (what the hell does a limit have for use anyway??) "Even though Symphony of the Night will exceed the size limit, Canessa indicated that there is still a 50MB cap on Live Arcade games, although Microsoft is willing to make exceptions to the rule. "If any games do exceed 50 MB, it's for a very specific reason that would ensure that the gameplay experience is the best it can be," Canessa said." (from http://www.gamespot.com/news/6164077.html?tag=latestnews;title;2 )
Simple. For people who don't have a hard drive (ie: Core System), they could download at least one XBLA game and store it on a 64MB memory card (along with their Xbox Live profile info). That's why the 50MB limit is currently in place, but again, that may change if/when a new HDD comes out and there are already rumors/sales sites indicating that a new memory card is due out this year.