According to Microsoft’s CEO, Steve Ballmer, their latest smartphone platform is slated to receive a whopping 500 new features. 10 am today will bring the announcement of Microsoft’s highly touted WP7 update with promises to deliver big news. Along with Verizon’s announcement to release WP7 powered smartphones this week, Microsoft will also be listing the deluge of updates including such expected new features as IE9, Office Integration, Multitasking, Twitter support and much more. Will this be the edge that Microsoft needs to cut down Apple and Google?