I'm not sure about that. Getting developers' attention away from the PS3 caused a drought in Japanese PS3 titles. Although it didn't improve 360's sales much, it's plausible that it hurt PS3 sales further than they were already hurting.
Regarding Europe, you're right that the gap to the PS3 isn't big, but that's the whole point. Look at how much market share the Playstation brand has lost. That's partly due to the Wii, and partly due to the 360 price cuts. I'm not saying this particular temporary price cut will have a big effect, but it's one more thing hurting the PS3/360 gap.
I'm not sure about that either... There's no clear argument to support it.
In my opinion, Microsoft's efforts have put Sony in a noticeably worse position than they'd be in if competing against the Wii and a more tame effort from Microsoft.
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