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Completely agree with OP.
All the money that MS spent on exclusivity on GTA4 and Fallout 3 DLC would have been better spent on providing a game to compete with the big Sony games.

As a result 2009 was a relativity barren year for 360 in comparison. Luckily I think MS have seen the light (or a least no amount of money can persuade a dev from ignoring the millions of PS3 users) and that mistake will not be repeated.