I agree with most you said. The 360 needs a price cut in America. Although, I'll point out the ps3 only had a $100 price cut with some feature tweaking.
20 GB - $499 went to a 40 GB (No Backwards Compatibility) for $399
60 GB - $599 went to a 80 GB for $499
But regardless, I understand your point...MS has been out twice as long and has only decreased the price minimally in the US compared to the ps3...which shows its strength (but it's time to decrease it before the ps3 gains too much momentum).
As far as point 2...A bundle would be great, in all honesty, I think it would be more beneficial to the 360 version than the extra downloadable content MS bought. I'm sure MS plans on recouping some of the $$$ they bought the exclusive content with when they sell it for $5-$10 a pop on LIVE.
As far as Europe, I think it's too late for MS--especially after this latest price decrease (GTAIV will be the final straw). Too much momentum has shifted in favor of Sony and Sony hasn't really had to do anything to cause it...consumers have just decided they prefer the playstation brand in Europe.
PSN ID: Sorrow880
Gamertag: Sorrow80
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