MS are in the best position they have ever been in, in terms of gaming.
I don't know how anyone can say that with a straight face. They may have started doing decent ground work for the gen to come, but they're still a distant third place in both brand perception and sales, and they're also struggling with the most fundamental and core aspect of a video game console, the games or exclusives.
Compared to the 360 days, where Halo was at its prime, Gears was the big new
it thing, they had incredible critical darling exclusives one after another, their online features were well ahead of the competition, and they had major third party exclusives and support to boot.
Whilst studio acquisitions are a great start, it doesn't guarantee any market, software or sales success. For all we know many of the studios they've purchased could end up releasing games to lukewarm reception. The historic portfolios of some of the said studios in recent times hasn't exactly been much to right home about (Compulsion, inXile, Undead Labs) and studios like Playground were already making exclusives for Microsoft.
Point is, on the software side, which arguably is the most important aspect of all, Microsoft is still a big question mark with a huge uphill struggle against the competition and even versus their past accomplishments. It's only going to be harder next gen as well, given Nintendo and Sony are now both much more accomplished in their portfolio of exclusives than they ever have been, whilst Microsoft is arguably at the worst they've ever been. Their success largely depends on the quality of software that they produce going forward.