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It's two pretty different cases though.

On the one hand, hacking Kinect won't allow piracy of games, therefore, MS are fine with it. In fact, it may actually improve Kinect sales. With Win Phone 7 they're effectively trying to prevent any potential for piracy by bringing hackers (or just GeoHot in this case) on board.

On the other hand you have Sony and Apple where the hacks actively allow for piracy to occur, even if the original intention is for homebrew applications.

If anything happens that allows software piracy instead of just homebrew apps, then you can bet MS would do a full 180.