If there comes no last-minute settlement, Microsoft's Windows client programmers will need to provide OEMs with two versions of Windows: one with Media Player bundled and one with it stripped out. However, this may be just only one of the remedies that the EU is seeking... Microsoft will probably also get a hundreds of millions of Euros fine, and will have to open up Windows to stimulate competition. More at http://www.eweek.com/article2/0,1759,1549098,00.asp.
Update: Steve Ballmer and his senior vice president for law and corporate affairs Brad Smith flew over on 16/02/2004 to Brussels to defend Microsoft's crown jewels in a discussion with EU Competition Commissioner Mario Monti . Cfr. http://www.eweek.com/article2/0,1759,1549695,00.asp.