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I think bundled games rarely have a dollar-for-dollar value associated with them (ie Adventures is worth 49.99, so Kinect is 100.00 as you stated); that being said, the bundled game does increase the overall value proposition of the 149.99 investment.

I'm stuck in the middle here; I think they would have got more unit sales at $99, but would not have been able to include a game.  So now my total investment is still $150, I just don't get to select which game...

Regardless, yes, based upon price comparisons I've seen, UK is getting screwed, hopefully it doesn't take MS too long to rectify that situation.