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nintendo has its massive Super Super Studio in Japan working on there first party franchises and new Ip's.

Sony has there global network of games studios

MS has an far less scale network of studios

MS has plently of money to build many studios or buy some and pump out the amount of 1st party games that is coming on the Playstation.

While the 360 may be getting more exclusives in the terms of xbla titles isn't comparable to the big blockbusters being pumped out by Sony. 

MS should of built more studios or bought some. Relying on 3rd party argreements dont work so well compared to directly funding your own projects. 



Of Course That's Just My Opinion, I Could Be Wrong