I don't see how WP7 could save NOKIA (or should that be vice versa?), it's not as if the problem with current WP7 phones is pants hardware. Quality manufacturers like Samsung, LG and HTC are already making them and they're just not selling.

I've got my fingers crossed that Meltemi will have a full implementation of the WAC api and the handsets will have a fairly decent hardware spec, that could help get the carriers back on side and give NOKIA a fighting chance.