We're overburdened, as developers, adding features to applications.

The .NET Framework is the core of everything we do.

So the opportunity to add value with services--not necessarily replacing the server, but complementary value streams--is quite significant, and I think you'll see us first grow in that area with Exchange, ... But we're looking at how to complement hosted services to all of the server businesses.

Ultimately this is about enabling mainstream adoption of user experience within both business and end-user applications, resulting in richer differentiated experiences on the web and the smart client that promote business opportunity and productivity

There's a lot of great stuff in there.

As people try to build their Web services, I think tools are going to make the difference.