Is Google or Microsoft the better 'one-trick pony'?

It's interesting to watch fans of both Microsoft and Google lay down the points of support for each company. In a nutshell, Microsoft Corp. (NASDAQ: MSFT) is referred to as the software giant of the 1990s that was late to catch up in the internet game . Google Inc. (NASDAQ: GOOG) is the company that has taken the "title" of the hot tech company that doesn't rely on software sales at all, but on an internet connection and a web browser. Quite a transition, yes?

While Microsoft made all its money on selling software and support services, Google has made all its money selling advertising to marketing partners on its search engine (so far). These are quite a bit different in terms of business models, and both have been enormously successful. It's no secret that Microsoft faces challenges unlike it has ever seen before right this second, and Google is a challenge that is right at the top of that list. One thing escapes the tech analyst crowd (and others) though. Microsoft is still making quite a bit of money and is growing at a very respectable pace. Is there a tide turning? Who knows, but Microsoft (so far) is not in some world of hurt, financially speaking.

Can the company transition into the internet arena where it seems that much consumer-level personal computer usage is heading? Good question, and there are bound to be answers all over the place on that one. One thing is clear -- Microsoft makes most of its money on the Windows and Office product franchises, but also has its hands into server operating systems, the video gaming market (where it is probably still not making much) and even the mobile market with phone operating systems. That's a few more eggs in the Microsoft monetizing basket compared to Google right now, which monetizes only search traffic (for the most part). I look forward to the bare-knuckled fight between these two giants, though. Competition is a great thing, isn't it?

[Disclosure: I own MSFT shares as of 4-13-07]