When Adobe acquired Macromedia (for US$3.4 billion!) I have to admit I was sceptical.
Between them they have two of the most installed applications that exist on the fringe of web content: Acrobat and Flash.
But, I doubted their ability to integrate the various product lines and generally get their act together. However, get their act together they have.
All of a sudden they are being seriously compared to Microsoft.
Adobe has momentum. Just like that Microsoft is fighting a battle on multiple fronts.
Will be interesting to watch…
UPDATE: Ryan Stewart has some more details on Silverlight.