I think it being done by Microsoft will actually make it worse. Just saying. It'll be all about marketing and not quality content, and most everything live action based on a video game has svcked so far. Scratch that, everything based on a video game has svcked. Besides RvB's animation in seasons 8 and 9 is top notch stuff.
Oops, didn't mean made by Microsoft, but funded by them. I'm pretty sure 343 has taken on all the writing. Although i agree that their latest attempts to make Spartan armor in real life are adequate, they need to make it look less like plastic when they make it.
Also I'm not trying to be biased or anything, but I think Halo has had the best live action stuff for video games that I've seen. The only problem is that they have only done commercials, so writing isn't exactly important, but the visulas tend to look good... except the armor.