At the today's Keynote at Convergence EMEA, the MS Dynamics's staff (including sir Bill Gates) has announced future strategy on what will be the "Dynamics Live" era: Microsoft is seriously working on placing most of its business services to the web and the first step of this process will be Microsoft Dynamics Live CRM.
This is a significant step and (obviously) also a source of comments from the Partners (many of us are worried).
Dynamics Live doesn't means that all the actual business services will be placed on a web (and hosted) platform.
Microsoft is working on a single code base that will support on-premises deployments, partner hosted deployments as well as the Microsoft Live service. The real new advantage for the customers is that it will have what Microsoft calls “the power of choice”, allowing them to choose how they want to use the software and change that over time.
A new customers could start with a standard "Live" service and, if it wants more control on his core businesses, call a Partner and obtain a personalized service.
Partners are worried to loose business but I don't think it's true... if the "Live" platform will be customizable and open, partners will have a new way to make its business.