I really hope MS is not going to take the Salesfoce.com approach with separate apps. Dynamics Marketing features will be available to CRM Online customers first, though as a separate application geared toward midmarket and enterprise customers, Dynamics Marketing will likely have a place in the on-premise world as well. The pain with this approach is silo-ed data. There is generally very light integration, in some cases, none, between the apps. CRM is supposed to include Marketing, Sales and Customer Service. This is flaw with sfdc and their Service Cloud, Sales Cloud, Social Marketing Cloud, etc. Related to this, in our experience, most customers are not happy with the diverging "forks" between online and on-premise. While some on-premise customer didn't like the faster updates, the majority want to have parity. This diverges too much from the Power of Choice...it's now becoming much harder to switch from one to the other. For those organizations that don't understand the business world is changing rapidly and it's no longer competitive to take a year between updates for the systems that are critical to their users, too bad. Your lunch is being eaten by more competitive and innovative companies. It's time to become more agile and keep up with the rapidly changing times and technology.