When it comes to the hosted CRM market, Oracle has bought out Siebel Systems and will sell the Siebel OnDemand offering. You also compete against Salesforce.com. What does this mean? It's not really affecting us. For hosting, with 3.0 we're bringing in a new subscription-based pricing scheme, as we said in July, through a partner network. Previously, somebody had to buy the license -- either the partner or customer. Now, no one has to buy the license upfront. The [customer] gets the service through the partner, and they pay for as much as they want to use.

In terms of strategy, who are you selling to? There's a tremendous opportunity for Microsoft CRM, especially with the consolidation in the market causing companies to rethink CRM. We are selling from the smallest to the largest, bar none. For small businesses, we're releasing a small business edition prepackaged for the Small Business Server. Our professional edition can fit with small businesses that have more complexity, as well as midsize and enterprise-size companies. Every company in the world is a good candidate.

What about integration with Outlook and your business applications, such as Great Plains? We're going way beyond Outlook integration. We're offering a native Outlook experience, and many people will have no idea where Outlook stops and CRM starts. Expect us to integrate closely all the [business] applications over time.