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PayaV87 said:

I just gathered the information about Microsoft 1st party, from what we've known. Of course if you have anything to add, let me know.

Microsoft    
AAA Studios Developing Last project on consoles
343 Industries Halo 5 Halo 4
Turn 10 Studios Forza Motorsport 5 Forza Motorsport 4
Lionhead Studios Unknown Fable: The Journey
Rare Ltd. New Family IP Kinect Sports S1 and S2
Black Tusk Studios New FPS IP -
Platform Next Studios New Core IP -
Connected Experiences New Multi FPS IP -
MS Los Angeles New Cinematic IP -
MS Victoria New Unknown IP -
Skybox Sports New Sports IP -
     
XBLA developers    
Twisted Pixel Games LocoCycle (for the X360) The Gunstringer
Xbox Live Productions Unknown South Park: STR
Press Play Max: The Curse of Brotherhood Max and the Magic Marker
     
Kinect developers    
Playful Learning New Family game (Kinect) -
Kids and Lifestyle Ent. New Fitness game (Kinect) -
Good Science Studio Unknown Kinect Fan Labs
BigPark Unknown Kinect Sports S2
Soho Productions Unknown Kinect Sesame Street TV

If I counted well, they have 18 studios dedicated for game development, and I left out some, which are just helping 1st and 3rd party development, or only having intrest making mobile games for the Windows Phone platform. It certainly looks great, but they have a lot of unproven studios. The biggest thing will probably come from Black Tusk Studios who are "creating a major franchise for Microsoft to rival their popular Halo franchise."

You're Missing Lift London, they are making "cloud based games" but that could be like 1 vs 100 and end up on xbla, also Bigpark is rumored to be working on a core Ip, connected experiences are not confirmed to be working on a fps, jus a large scale multiplayer game, Rare is working on 3 core ips as stated in an old jobs listing and you should not leave out redmond publishing they co develop games with other studios (probably second party), so their games will be exclusive.