The desire for fulfill the prophesies of Moore's law and to have ever faster and more powerful computing has already exhausted itself.
While software has been hampered by web "technology" over the last decade, we are hardly at the pinnacle of software and computing... it's more like the Dark Ages, actually. Some stuff is being done elsewhere (GPUs, mobile), but we're still mired in fundamentally stagnant and backwards principles on the desktop (and server, really).
Games are just about as good as they are going to get without new display technologies.
Laughable. Let's assume anything video-related is "new display technology," and that we certainly have a long way to go to realtime radiosity and raytracing at extremely high resolution in a mobile device, then toss it 3D for good measure, so that's a given. But in terms of gameplay, all the computing and RAM you can get can be eaten up for a very long while. Simulation in games, today, isn't anything like what it could be. If I can't build a city at the SimCity level, zoom in and rampage through it at the GTA level, and walk up to each and every person on the street and learn their personal history and daily routines at an RPG level, then go into every structure and demolish it bit-by-bit with full soft-body dynamics, you've got quite a long way to go.
The desktop PC has been maxed out and has been resorting to multi-processor and multi-core as the means to keep growing but meanwhile, the primary OS for most people running these systems is still not taking full advantage of even those advances.
This is true to some extent, but "resorting to multi-processor and multi-core" means the desktop isn't maxed out. The primary OS (and software) may not be taking advantage of these things, but they are there and we're far from done yet.
Microsoft shows no remorse over their architectural choices and show no signs of slimming down and getting lighter. So nothing points in Microsoft's direction... not even Microsoft. They are raising prices to make up for the lack of interest in what they are doing now.
Microsoft is irrelevant. They have been for a long time. They may not be going away anytime soon, but they've been irrelevant since Google used the web to effectively route technology around them (due to earlier attempted lock-in). Of course, this has resulted in aforementioned Dark Age of Software, but at least we're not stuck on one platform. We're at the point where Valve is looking to seriously move gaming away from Windows, and there are alternatives for everything else, so what happened before doesn't really apply to what can happen in the future.
Think about what we are seeing.
What we are seeing is ripe potential for a Computing Renaissance.