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Zomb1337 said:
Microsoft is claiming they have exciting new IPs this year which will most likely be announced @ GDC09, E309 and possibly TGS09.

We'll see what they have aside from Lionhead's project(s) and Rare's three or four projects, and which of those even make it out this year. I think they've got another Mistwalker game on the way, as Sakaguchi said something about starting his next large scale project. He also said he'd like to make a Wii game but doesn't have specific plans to do one, so that narrows it down a bit as to which platform.

But if MS doesn't bring some big guns, I think they'll be in trouble. Especially if Sony manages to cut prices this year.