Rumors of a Microsoft Zune phone have been around literally since the company launched the device in November 2006. Now they've resurfaced again, with CNBC's Jim Goldman reporting that the company will combine the Zune brand with technology from its Danger Inc. acquisition to produce a possible iPhone rival.

Goldman puts the device under the umbrella of Microsoft's long rumored "Pink" project, saying that a prototype could be unveiled early next year. There are also reports that Microsoft will work with chipmaker Nvidia on the underlying technology for a phone.

Tech commentators are divided on the subject. Over at Microsoft Watch, Joe Wilcox explains why a Microsoft phone could be a plausible strategy.

"There's still a viable Windows Mobile ecosystem, and Microsoft is better off with its software shipping on as many phones as possible," Wilcox writes. "But Microsoft can't succeed without taking more control over its destiny, meaning end-to-end software plus hardware plus services."

Michael Gartenberg throws some cold water on the theory. Unlike the Xbox game console and the Zune music player, he writes, this is not a situation where it would make sense for Microsoft to expand into the hardware side of the business,

"There's always some possibility of MSFT exploring a phone but it's far more likely mobile Zune branded functions just get baked into a future version of Windows Mobile," Gartenberg says.

In other words, Microsoft may or may not be developing its own mobile phone, perhaps under the Zune brand. Maybe we'll find out at the Consumer Electronics Show in January. Maybe we won't.

But here's the interesting question: Should the company come out with its own mobile phone? Should Microsoft's long and mostly unsuccessful struggle against the iPod keep the company from attempting to take on the iPhone? If it came with the right features, and partnered with the right wireless provider, would you consider buying a Microsoft-branded phone?

Feel free to offer your thoughts in the comments below.