This is the best analysis among the thousands that have been written in the last week. Yahoo would be CRAZY to partner with Google as some have stated. Microsoft's strategy is to build platforms (Windows, Office, XBox, Dynamics, etc.) that Third Parties can customize. Apple still hasn't learned this but Google has embraced it in a way. Google and Apple would make a good combo technology-wise.

I see the potential for a 1+1=3 merger. Comparing it to AOL/Time Warner is apples and oranges. TW was a media conglomerate that hasn't innovated in years. Yes Microsoft moves slower than most people would like but look at the end results! With each of the platforms listed above, people have doubted MSFT's strategy and execution...So what's new?!?!