Interesting thread on the subject, from march last year:
http://forum.xda-developers.com/showthread.php?t=647239

Basically, what they're saying is that WP7 is a Microsoft copy of iphone OS.
So, since Microsoft doesn't know how to improve winCE, they make it worse, and call it "easier" or "more user-friendly"?
With aggressive marketing, the best Nokia can ever hope for, is to become second to the iphone. Which seems unlikely considering Android will still exist.

Does any of that sound like a winning recipe?
To me it sounds more like a scam looking for a sucker, and in this case it'll be Nokia, who in the end takes all the HW costs.