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I think that based on the last couple of E3s, Microsoft's been doing a steady job. Their problem is how Sony's been delivering their conferences recently. With the whole PlayStation Experience thing and having live orchestras and making things more like a 2-hour movie, you're basically getting two very different kinds of presentations.

Sony's conferences LOOK more epic, grand in scale, and majestic. Even if they haven't delivered all the games yet, they've been going for a more cinematic approach and cut down on the speeches. I'll readily admit that they can be full of fluff, but they're fun to watch.

Microsoft's conferences have been very classic in their presentation, so they could announce everything on everyone's wishlists, but if Sony brings out TWO orchestras this year playing Star Wars music with a hologram Lil' Sebastian, MS is shit outta luck.