scampywiak: Xbone hording exclusives is scary indeed, and may even put them ahead of the PS4, no matter how good that machine may be.
I really don't believe Microsoft has what it takes to take the edge in exclusive games. They do have the money to get exclusive rights, such as the Gears of War franchise, which was made by a third-party studio. But they don't have as many talented internal development studios as Sony or Nintendo. They're not even close. In fact, Sony has many more first-party and second-party studios than Microsoft.
Sony has Naughty Dog, which is nowadays one the best studios in the world, Santa Monica, SCE Japan Studio (responsible for ICO and Shadow of the Colossus), Guerrilla, Evolution Studios (which has a few former Bizarre members), Ready at Dawn, Media Molecule, Sucker Punch, Polyphony Digital and Quantic Dream, just to name a few.
Microsoft has 343 Industries, Turn10 and ehhhhh, hmmmmmm ahhhh, nothing. Ensemble was a great studio, but it was shut down by Microsoft. Bungie was amazing and could give Microsoft the edge, but it's a third-party studio now. Rare is NOTHING now. Nothing compared to the old Rare in the SNES and N64 days. Rare hasn't made a good game since Conker Bad Fur's Day (although Starfox Adventures and Kameo were pretty decent, but the development on Kameo started when it was still a Nintendo studio). Most of the developers who worked on Rare's golden days have left a long time ago.
Microsoft has already stated that they will announce a classic Rare game soon (probably at E3), but sincerely for me it doesn't mean shit. After what they did with Banjo and Perfect Dark i expect nothing from Rare.