Apple's iPhone may be the fan favorite of the moment, but don't count out Windows Mobile. At least that's the view of one biased source who spoke today at the Casual Connect gaming conference in Seattle.

Steven Hegenderfer, group product manager of Windows Mobile, said that the mobile industry is still very much in its "infancy."

"Anyone (who) thinks that Apple is going to run this thing, they are sorely mistaken," said Hegenderfer. "And I am not talking from like a pompous point of view. We are so early in this industry ... we are barely scratching the tip of the iceberg. And this is exciting.... It is like a wild west land rush, there is gold in them there hills."

And while Apple has gained a "great first mover advantage" with its App store, Hegenderfer said that "there is still a lot of play left in marketplaces."

"It is really going to shake down to you guys -- the professional developers and where they are making their money," Hegenderfer said. "Our play is that we plan on allowing you guys to leverage your stuff."

Hegenderfer said he doesn't have a crystal ball on the how things will play out, but he said the mobile marketplace that has the best chance of success is the one that helps developers make the most money. And that has yet to be determined, he said.

Patrick Stanton, director of content operations for Nokia, agreed. He said there could be as many as "half a dozen marketplaces" that specialize in mobile content distribution.

"It is going to be a competitive marketplace out there for some time to come," he said.

The battle between Apple and Microsoft could start to get more interesting beginning next week. On July 27th, Microsoft plans to open its Windows Marketplace for developer submissions. A full launch is slated for the fall when Windows Mobile 6.5 is rolled out.

Since it is early days, Hegenderfer said they are still trying to figure out the best pricing models and he asked for suggestions from audience members.

That prompted the best question/statement from a developer in the audience who pointed out some of the challenges trying to create applications for the various mobile marketplaces.

"It is very difficult for a developer to pick what platform -- given limited resources and limited time -- on what you want to develop. So, Microsoft guy, if I build for you, I have to build for nine form factors because there are all types of different screens. There are all types of different input capabilities. And there is no real marketplace right now.

Nokia guy, if I build for you ... it's Symbian. Symbian doesn't do me any good on the PC platform or the Mac platform and it is wickedly hard to develop for ... so are you going to do anything about that?

And there is no Apple guy here. But if there were an Apple guy here, I'd tell you to open up your app store completely for all applications. I don't want to have to see really cool applications on jailbroken iPhones.

So Microsoft guy this is your chance. Let anybody publish whatever they want. Laissez-Faire is great. I will develop for nine form factors if I can develop anything. And get another operating system."

That prompted Microsoft's Hegenderfer to say it is one area where he actually has "Apple envy."

"I still totally get your point," he said. "If there is one area where I have Apple envy, it is that. From a developer standpoint, and being a developer it is like 'Wow, I can target that install base and I know the screen size and I know the processor and I know what is on the device. I love that."

UPDATE: I got a request  to follow up on some of my Tweets from Hegenderfer's talk today, especially as it related to his final comments about the company's mobile efforts and its plans to woo developers. Here's what the Microsoft manager said:

"I think from our standpoint, I'd say get involved now because you are going to want to be in early when the ship takes off. When we talk about the three screens and cloud stuff, we've been doing this stuff for years. Shame on us for not pulling it together. Shame on Microsoft for not pulling it together.

But, take a look at the way the company is organized. In Robbie Bach's division ... there's Xbox, Xbox Live, Zune and Windows Mobile.

There is a reason why all four of those are in the same division. There is a reason why we've gotten certain services in those four divisions. And like I said, the potential is massive. You are going to start now and you are going to take some lumps. I get it and I will help you in that in anyway I can. But I guarantee the future is much brighter.

Do I want you to work for the future? Hell no. I want you to get your apps in there on the 27th, next Monday."