Well I never like to see a company go bankrupt I would rather see a company become stable and remain in play giving consumers more options, this goes for Nokia as well.

Unfortunately I don't see Nokia sticking around long due to the reasons you mentioned. Nokia seems to suffer from corporate ADD and can't seem to stick with a scalable track for more then 3 years at a time which is why they have been blundering around the last 4+ years, but at least they were staying in the same ballpark. The MS deal is just so far off track and due to the way they handled it I don't see them being able to recover from this maneuver if\when it fails.