If there's one thing Microsoft is good at it's pulling exclusives out of their ass, especially around E3. Pretty much the following happens every year. Sony has a long list of exclusives, about 20% of which end up getting delayed and Microsoft has only 1 or 2 games for the entire year only to announce 2-3 during E3.
One thing that might change this year though is that Sony list of exclusives is even bigger than usual to the point that even if 20% do get delayed, it's still gonna have over twice as many as Microsoft's. Also, Microsoft is fairly dependent on third-party exclusives. With Mass Effect and likely Left 4 Dead going multiplatform, Microsoft might have be lacking in exclusives if they can't make some new relations. Crytek was a good start, but I wouldn't bet on Codename: Kingdoms making it in 2011.
