Microsoft will launch Windows Mobile 7 with a version rebranding and two very high end devices, a potentially revelatory rumor says today. The OS would be rebranded as Windows Phone 7 and would be split into two releases different than today's. Its highlight would be a Media Edition that would have Zune-like elements in its media player as well as deep tie-ins with Microsoft, such as in-browser Silverlight, Mediaroom for IPTV and at least the social side of Xbox Live.