Where is Skylanders character data stored

According to press content:

Action Figures with Brains

Skylanders are special physical action figures that come to life in-game. Just take a Skylander, place it on the included Portal of Power, which is synched to your game console and a representation of your chosen Skylander will come to life in the video game and do your bidding. There are over 30 Skylanders in total – each with unique abilities and powers (three are included in your starter pack). Skylander action figures remember their in-game experiences and upgrades as they explore the mysterious world of Skylands, battle menacing creatures and collect treasures. Conveniently, it doesn't matter what gaming system your friends have at their house, the Skylanders work on and across all major video game systems. That means that you can take your Skylanders over to your friend's house, drop them on their Portal of Power and your Skylanders will come to life in the game.

I'm not as concerned about specific technologies (Bluetooth, RFID, NFC), that would be another question.

What I am asking is about data storage. Do each of the figurines have data storage? I don't see any other way to meet the goals that the press releases state. I guess they could use a unique identifier, and store data on the server?

So here's a specific question (with probably unnecessary detail)

Alice has Skylanders on the PS3. Bob has Skylanders on the Wii. Both of them buy Drobot. Alice levels hers up to level 7, and Bob levels his up to level 9. If bob, then takes his Drobot over to Alice's house. Will Bob be playing with his level 9 Drobot, or will it think it's Alice's level 7 Drobot?

The press release implies that it will by Bob's level 9 Drobot, but I'm a little skeptical.

So I see 4 options:

1. Stored on figurine (Skeptical)
2. Stored on console (easy, but doesn't meet press release)
3. Stored on servers (easy, but requires Internet connectivity)
4. Something else