I think it's a little early to say MS is milking the Halo franchise. We got H3 in 2007, Halo Wars in 2008, and now ODST in 2009 with Reach coming in 2010.
Given that one is an expansion, one is an RTS, and Reach is the first brand-new game since H3, I'm not going to get too upset over it.
It makes sense to expand the franchise a bit and if they do a game related to the franchise once a year, I think that's keeping things within reason.

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