I disagree that Documentum, FileNet, Stellent and other will become irrelevant thanks to Sharepoint. Sure people adopt Sharepoint because it is Microsoft, it is "there already" or including in some big enterprise licensies. However, anyone with experience from Enterprise Content Management know that there is quite a difference between say Sharepoint and Documentum. I am SURE that there will be fairly large number of companies that actually need both the features and the whole architecture of such systems to manage their content. Sure the best technology does not always win but there will be enough demand to sustain and grow real ECM-business. Possibly open source like Alfresco can challange that but they still have a lot do to before coming on par with say Documentum D6. However, for small and medium sized companies there is a place for contenders. Hopefully there will be some standards availble to make integration with bigger ECM-systems easier.