Do you have any data supporting your claim or is this just a gut feeling?

Here's what we know about MS's business model (I just quickly skim read their annual reports to gather these figures).

Revenue in 2008 was $60.8 Billion, up 18% from the previous year

Revenue in 2007 was $51.12 Billion, up 17% from the previous year

Revenue in 2006 was $44.28 Billion, up 11% from the previous year

Revenue in 2005 was $39.79 Billion, up by about $3 billion from the previous year

Revenue in 2004 was $36.8 Billion, up by 14% from the previous year

Revenue in 2003 was $32.19 Billion, up by $3.82 billion from the previous year

Revenue in 2002 was $28.37 billion, up by $3.07 billion on the previous year

So since the date these internal memo's were written, their business has only managed to steadily grow each and every year by more than 10% per year, with their total revenue having doubled since these memo's were written.

Or that Microsoft's growth alone in 2008 was around half of internet golden-child Google's total revenue for the same period?

Yes, their business model is coming to an end, they really should be scared.... </sarcasm>

(Disclosure: I don't work for microsoft, or a competitor, nor am I an investor. I'm just sick of the unnecessary FUD)