A few big things:
NA: Drop the price ASAP. If they drop it, they could easily see 1m or 2m more units sold just this year.
Europe: Get more positive PR. MS is not a well-liked company in Europe because it's a mega-corporation, and I don't believe Europeans really like those kinds of companies. A price drop wouldn't hurt the system. Europe has similar tastes as the US in gaming (ala PS2), and the games are relevant to the European marketplace. A major price drop + GTAIV + Halo3 would do wonders, but having better PR and a more positive image than the giant corporation-of-death that MS is would help against a kid-friendly Nintendo and a fun Sony.
Japan: Make more and more inroads with Japanese developers, even if it costs money. If MS secured more deals with Namco-Bandai (think Trusty Bell), Square Enix, and Capcom, they could easily see 10m units sold of the 360. The Japanese WANT the 360, but they WONT buy it until there are some relevant games on the platform. If we saw a major release every month to the degree of a DOA4, Blue Dragon, DOAX2, IdolM@ster and had atleast 2-3 decent games each month, I am certain the 360 could easily do 100,000 units/month consistently (to the tune of what the PS3 is doing, or more).
Back from the dead, I'm afraid.
