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Live shouldn't cost $90 a month...it costs $60 at the most if you don't go deal shopping.

Now to answer your questions:

1. Not sure seeing as I don't have Kinect but most people that have played it say its fun. Software is lacking right now though (but that is soon to change)

2. Live is worth it if you are big into MP games and plan on doing things like watching Netflix on your 360. The difference between PSN and Live isn't huge but Live is more streamlined and user friendly IMO and it has a couple of extra features that PSN doesn't have like party chat/cross game chat.

3. This one is easy! Yes they are both really awesome game franchises.