Microsoft had another conference in France called Remix10. At the event they showed off a game called Twin Blades running on the phone. They were able to convert the game from XBOX Live. The amazing thing about this is they were able to use 90% of the code base. This basically means it was really easy to convert the game to run on the phone.
What was also Amazing is the phone they were using apparently was not a true Windows Phone 7. Just an older Samsung device with Phone 7 installed on it. Yet, the game seemed to play really well. I can already see the minutes of my life flying away while I play games on my Phone 7. Check out the Video