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1) 10's of millions in value.  No actual cash changing hands.

2) Advertising costs paid for,
royalties per copy drastically cut,
Liscensing fee waived
free development kits
the bundles,
Front of the line tech support
scheduleing so that MGS4 was basically "by itself."
integration into non specific adds.

3) Not really... but for other reasons it's likely worth it.