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While being in direct competition would be a negative for Nintendo and Microsoft, releasing at (roughly) the same time would probably justify much greater (initial) multi-platform third party support for both of their consoles; especially if performance is similar enough between both platforms (note: running at 720p@30fps on one platform and 1080p@60fps on the other would be similar enough for most publishers). In general this could be a huge benefit for early adopters for either platform because they might see more meaningful support earlier than most systems do.