Not having an XBox 360, I don't really know anything about Gears of War 2. But after hearing that they've disbanded Ensemble Studios, it worries me slightly. However, I'm not overly concerned about whether Microsoft will “make games” for Windows. Because in all reality, other than Flight Simulator, I don't think “Microsoft” has ever made games for Windows; they've merely(!) financed studios to make games on their behalf. (Yeah, I'm splitting hairs now.)
But even if they don't actively promote their own games on the PC, I trust they will still treat PC games with the utmost importance, if only for one simple reason: PC games sell operating systems. I don't know of anybody who bought Windows XP just so they could use the newest version of Microsoft Office, or whatever. They got it because newer games require newer hardware, which often requires a new OS (or perhaps more specifically, a newer version of DirectX.)
I think Microsoft has shot themselves in the foot, repeatedly, where Vista and “Games For Windows” is concerned, but I have a feeling they will recover from their mistakes, regroup, and make a second attempt at it, either in the next iteration of Windows, or perhaps in another service pack (or maybe a “Second Edition”, like they did with Windows 98.)
As for a Steam-like client, don't even get me started. ';P (I still have issues with Steam. But that's another topic.)