Nokia fails anyway. If WP7 succeeds, MS will say thank you to nokia and slowly reduce their "privileged" status until they are just an OEM.
Nokia won't have an alternative, because meego is just a hobby project, and the market will be saturated by then.

Maybe MS buying their navteq/maps division at some point.

If WP7 fails, Nokia fails. Simple as that.

What a bright future ahead of us!!