Bungie has left the Microsoft fold. And as an independent they could be making titles for the PS3 and Wii:
'Halo' creators leave Microsoft - Games - MSNBC.com
'Halo' creators leave Microsoft - Games - MSNBC.com
When I read about this, it makes me think of a situation that has been touched on earlier in the thread. Where a publisher is looking at the $$ making aspects of a game but the developer is looking to go out and create new games, to keep their creativity and stop boredom. If you think about it, what Microsoft has done might be a pretty good thing indeed for their own interests and for the interests of Bungie. Keeping a good company together, rather than allowing them to split up.
Look at what has been happening for years in the gaming industry. Blizzard & Vivendi: Major developers leaving Blizzard because of Vivendi's pressure to continue to pump out WoW material, and basically nothing else until recently (SC2). I.E. Hellgate London devs, Guildwars devs, and a couple of other devs, left Blizzard to create their own gaming studios because of their unwillingness to continue to churn out the same game content (WoW), year after year.
Look at another almost failed or failing operation, Rare. Top notch Rare developers leaving because of their unhappiness (i'm assuming here) of management or direction their company was going with a major publisher (Microsoft) under control.
Other examples: Interplay & Black Isle = Troika = dead. Microsoft & FASFA = dead. and a slew of others that I can't remember now.
What my conclusion is that basically Microsoft might be learning here and is starting to understand the game developer enviornment. To keep their interests met (creating awesome games that make tons and tons of $$$$$$), they must allow their developers a more free reign. In Bungie's case, letting them go independent (so that the company feels free to persue new projects) but retaining an exclusive publishing deal(first right to deny to publish) with their games(I'm assuming something like this will be happening for a while). If they didn't do what they did, Bungie dev's would of probably jumped ship. This event will obviously have a huge dramatic effect on how some publishers will be doing things with their AAA dev houses. They might not all let their inhouse dev's go but might think twice before forcing them to produce the same content, year after year.