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markers said:
Say Microsoft hiring a third party to build said engine then leasing engine out to anyone who wanted to make an exclusive game.

Wouldn't be much point really. You can get more performance out of the leading edge engines (CE3 & Tech 5) then most if not all exclusives have shown on any console and all the major engines this gen perform better on Xbox 360 anyway.  UE3, Tech 4, Tech 5, EGO, Capcom Framework 1-2, Frostbite, It's only really behind on Crystal Tools, assuing all that FF stuff is true.