Already In Place: Oracle databases and applications have long run on Windows Server. It's basically an on-premises relationship.

Highly Unlikely – Solaris Application Ports: Could Microsoft port SQL Server, Exchange and other Windows Server applications to Oracle Solaris and SPARC? That's highly unlikely considering Microsoft abandoned RISC servers in the 1990s. But perhaps we could hear about Microsoft server applications virtualized on Oracle hardware.

Somewhat Unlikely — Microsoft on Oracle Database Appliance: Oracle uses its Database Appliance to target and engage Microsoft SQL Server customers. Basically, Oracle asserts that the Database Appliance is a SQL Server killer. It's therefore doubtful that Microsoft technology will start showing up on this particular Oracle platform.

Somewhat Likely – Hybrid Cloud: What if Oracle running on Windows Server (on premises) could connect easily to Windows Azure and/or Oracle cloud? Now THAT would be of value to both companies and their customers. 

Somewhat Likely — Oracle and Java for Azure: Microsoft has kept the Windows Azure cloud open. For instance, Azure supports Linux and a range of third-party developer tools and standards. Going forward, customers would surely welcome more Oracle database, application and Java support in Azure.

Completely Unlikely — A talent Trade Involving Judson Althoff: Oracle's former channel chief, Althoff joined Microsoft earlier this year. Could the two technology giants be working on a trade that sends Althoff back to Oracle for money and talent to be named later? Highly unlikely.