Microsoft has not so much lost its appeal against the anti-trust remedies, as it has lost the request that the remedies should be delayed until the appeal can be heard. It is generally accepted that it could take as long as five years for the appeal to be heard, and the status quo in the meantime is normally that the order to enact all remedies should be in place from when it is made. Microsoft had argued this would cause it irreparable harm and asked for the remedies to be suspended until the appeal could be heard. It is this request which has failed.
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And that, in a nutshell is what Microsoft now has to deal with. Put yourself in its place. Can Microsoft engineer a way into any new markets without relying on “tying” software to its operating system. And if it can enter new markets in this way, what is the cost of entering them fairly? Another misstep will cost Microsoft dearly, and a second case might well break all previous records in terms of fines and further remedies.

MS out of the bundling business? | The Register