The only reason I haven't counted Microsoft out yet for WP7 is because they've at least shown they are somewhat competent in competing on the game console front. So for specialized experiences (as oppose to general) it seems they do decently. That being said it's still too early to get a WP7 phone for me (XBOX integration wasn't as I thought) and I still haven't found out if it can do things like tasker can for android.

Nokia stock on the other hand I have no idea. Even if they make good hardware, is that really enough to differentiate themselves from say HTC and other future WP7 makers? But on the other hand with stock being so cheap if it ever goes back to even a decent selling price you could make a boatload. Is it even possible that Nokia could eventually pull an Apple and turn the ship around?