Is Mass Effect 2 an Xbox 360 exclusive?

So almost 1 year ago to the day, my house was broken into. You see, the little ne'er-do-gooder made off with some pretty nice stuff, my LCD TV, our laptop, and by shock, my Xbox 360. (They failed to take my PS3 though, strange?) Anyhow, in the disc-tray of my Xbox 360 was my copy of Mass Effect, probably about a third of the way into the game. Because of these unfortunate events, I've not gone back and played Mass Effect, but I've been told I need to.

Well cut to current day and we have news of Mass Effect 2 and it's imminent release in 'early 2010' as a "sorta" Xbox 360 timed exclusive. If Matt Atwood is to believed, (and he IS from BioWare), he says "I believe we'll be Xbox 360 exclusive for at least a short period of time. We're still working out the details on that, but we've had a great relationship with Microsoft and done very well."

That being said, I'll have to go back and finish the first game before I can even worry about this. Exclusivity or not.

Do you feel it's necessary for consoles to have exclusive games? Without it, I fear we'd all get along too much. Be sure to check out the Teaser Trailer below.