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If I recall correctly, the deal between Bungie and Microsoft gave Microsoft the option to publish future Bungie games (i.e. Bungie is contractually bound to only use another publisher for a game if Microsoft turns them down). Microsoft also retained the rights to the Halo series.

Essentially, Bungie has creative control over it's own projects now, but Microsoft has the hooks in them on the business side. I don't know the exact details of the deal, but it's sufficient to say that a Halo game on a competing console is an impossibility, and it's incredibly unlikely that Bungie will release a non-Halo game on a competing console.

Portables could be a possibility though.



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