Kinect was something like the fastest selling accessory of all time, so you can't expect too many hits at that level. But there have certainly been many other consumer-visible successes, like Excel's flash fill or Skype's upcoming real-time translation. Then there are enterprise things that consumers may be unaware of, like SQL Server's Hekaton technology. And beyond that, there are lots of additional projects that meaningfully translate to value to Microsoft but that aren't really externally visible, like speech recognition improvements, search engine ranking techniques, datacenter networking improvements, efficient algorithms for traffic routing and prediction, etc.
