Well there are rumours around of "Microsoft Flight".
http://www.microsoft.com/games/flight/
However, I think you'll agree that it looks pretty much like FSX.
Everybody knows that FSX with Real Environment Extreme 2.0 plus an ORBX scenery library is probably one of the most powerful flightsim platforms out there for stunning views.
I really hope Microsoft continues this development as it inspires people to learn to fly, increases the GA pilot count and keeps the pastime alive for all to enjoy!