After laying it all out, we concluded, "Fortunately for Microsoft, none of this is going to happen."

We were wrong.

A lot changed in the last year.

Microsoft's nightmare scenario is actually starting to take hold. We're revisiting our slideshow from last year to see how things have played out.

Each of the slides that follows has one piece of the nightmare scenario for Microsoft. In the body of the slide, we explain where Microsoft stands in comparison to that hypothetical situation.