First, let's get it out of the way. The FF announcement was huge. Now that that's over, let's move on to the meat of this post:
I'm disappointed because MS's conference was about how they're as good as everyone else instead of being about the ways they were going to go well beyond the competition in the realm of gaming. Here's what I saw:
-Mii ripoffs (aka Mii too-point-five)
-Eyetoy/PS eye ripoff
-New interface similar to the XMB
-Amazing Netflix announcement (however, NOT GAME RELATED)
-Buzz ripoff
-Singstar ripoff
Now, MS has done a ton for this industry. They've popularized and perfected the FPS and online gaming. But those were initiatives from the original Xbox. This gen they introduced Xbox Live Arcade and popularized the smaller game. However, other than the Arcade, I just really haven't gotten the sense that MS is really looking to bring new ideas to GAMING in this generation. For example, they've been buying up JRPGs such as the Namco games, but they haven't been trying to improve or move the genre forward. The one game that seems to have potential to be something different and go beyond competitors' offerings and go beyond our expectations for what a videogame can do is Fable II, yet MS gave Molyneaux barely 5 minutes to showcase what his game can do.
Their whole conference was focused on sending the message that they can do casual like Nintendo and hardcore like Sony. Their biggest announcement was that they're getting a game that Sony's had for ages, not that they're going to push the boundaries of gaming and introduce something novel.
Obviously, it's not some kind of law that MS has to bring something new to the table every E3, but that doesn't mean I can't be disappointed that they didn't do that. And before I get jumped on for being a Sony fanboy who's running damage control, I'm gonna make it clear that Sony's definitely in trouble because of that FF announcement. But I don't want to turn this thread into all the other ones we have, so please keep your comments focused on the the thread topic.
My Top 5:
Shadow of the Colossus, Metal Gear Solid 3, Shenmue, Skies of Arcadia, Chrono Trigger
My 2 nex-gen systems: PS3 
and Wii 
Prediction Aug '08: We see the PSP2 released fall '09. Graphically, it's basically the same as the current system. UMD drive ditched and replaced by 4-8gb on board flash memory. Other upgrades: 2nd analog nub, touchscreen, blutooth, motion sensor. Design: Flip-style or slider. Size: Think Iphone. Cost: $199. Will be profitable on day 1.
