See, I understand and support CE/LE's for big name, highly anticipated titles like World of Warcraft (and I'm sure Diablo 3 and Starcraft 2 will have CEs as well), Bioshock & BS2, and even FO3- You get some really cool stuff that, if you are an enthusiast of the title, you probably want.
But it created a monster in the marketing department: Publishers were like "Holy shit! We can really add a couple of crappily made things that we were using for freebie promo materials, toss them in a box and then upcharge by 200%?!? We were just gonna throw that leftover shit out anyway!"
But TBH, if it's have too many games publishing CEs than have no games publishing them, I'd rather have more choices than less. I can control myself and not pay stupid amounts of money for shit I'm really not interested in.
And YAHTZEE, when speaking of iconic character designs, how can you leave out Gordon Freeman, FFS?!? Goatee, Glasses, Crowbar are all you need to know. Well, maybe 'Hazard Suit', if the target audience is particularly dense. But I doubt very seriously you could find another video game character so identifiable as Freeman, even by people unfamiliar with the game.