Not terribly exciting for me, I don't particularly like being under the thumb of some corporation that has a vested interest in controlling how I use my property and denying me paths of use that were previously open to me. All this move does is reduce the number of possible sources of phones for me in the future by one

Initially at least, depending on how well things go I suspect Microsoft will make moves to have their brand be more prominent and Nokia's less so.

I will be shocked if Ovi survives in any fashion or is present at all on WP devices. Microsoft has brands for all of that, and the whole purpose of WP is to push them in the mobile space.

That defeats the point of heavy integration and lock-in. I imagine that anything outside Microsoft brands and sources will be phased out over time.