No Internet, yanking the countdown timer yesterday was not a joke. We wish it was, though.
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Personally I think Microsoft is just playing it safe. They are keeping thier inevitable ace in the hole to be revealed at a later date. They were probably expecting some awesome news from Nintendo or Sony, and then they were going to show Bungie's project to stay a step up, but Nintendo and Sony failed to show anything really groundbreaking...wait for a couple of months and then we will see it.