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Chrkeller said:
I suspect it could have changed everything drastically. Had Final Fantasy, Resident Evil, Metal Gear, etc. all been multiple platform... with the N64 being more powerful. The cartridge move was a bad one for Nintendo. It stifled development and increased costs. I remember paying $70 for N64 games and $40 for ps1 games.

Final Fantasy VII would likely have been permanent N64-exclusive in this scenario, as would Dragon Quest VII. Both Square and Enix believed in supporting a single platform at that time. In that case, Nintendo would have crushed the PlayStation.