Hi wcb, agreed the type-45 is just one of the deployments for MSI's systems (I wasn't saying they were the "only" deployments for the gun systems!) - but it is interesting nevertheless and doesn't help sentiment, not just the two that have been scrapped but the generality of the cutbacks, which might affect MSI's other defence-related sales.
With potentially no newsflow till results in June'07 it'll be interesting to see if MSI carry out any more buybacks. If not, there isn't really any incentive and won't be any signals to buy the shares till just before or maybe after those next results imo.