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Well, even though they are sticking with the internals, I am pretty confident they will still be blowing money away expanding their inhouse studios.
Of course, this means they wont be using money in "smaller" chunks, but rather more money in less chunks, where MS is handing out "smaller" chunks more often. (And yes, there is moneyhatting going on. It makes no sense to make DLC exclusive to 2/3 of the platforms you are releasing your game on *cough*Fallout 3*cough*)