I would say Halo.
Without Halo, I think the Xbox brand is dead in the water. It's by far the franchise that carries the division and it's not one that can easily be replicated.
As far as Nintendo and Mario goes, however, I know it would hurt to lose the IP, but that's mostly because of character recognition. It's not like there is any real depth behind it. They could start over with the tales of an Irish miner or a French bread maker. It would take them awhile to build the universe, of course, but who really cares about that? Who plays Mario games because of Mario, anyway? The story and characters aren't really that important.
Which would you rather play, a Mario clone from Nintendo or a Mario game made by Activision or Sega?











