I just bought the books, haven't read them yet, but maybe my answers will still help?
1. When you first decided to purchase Elfhunter, what factors entered into your decision?
Reviews, cool cover, no-DRM, and having a reasonable price.
2. Having read it, do you believe you would be unhappy if you had paid 2.99?
I haven't read them, but I will say that even if I end up thinking it's a dud after I do read it, I still wouldn't be unhappy that I paid $2.99. That's cheaper than even the used paperbacks at my local used book store. $3 is not too much to take a risk on, even if it doesn't pan out. (This is not to say that I think the books will be duds...)
3. Do you believe you would have purchased it for 2.99 to begin with, if you had read the sample and such?
I bought all three books, including one that is $2.99 *without* having read the sample, just the blurbs, looking at the cover, reading reviews, and watching the book trailer. I'm not much of a sample reader. I have this thing about finishing books I start, so reading a sample would be like starting the book, so I'd have to finish it anyway.
4. If I can save file space by removing illustrations, and therefore keep the 99 cent price point, should I do so?
No, I don't think so. Since e-books from trad. publishers or even indie releases from trad. published authors tend to be more in the $4.99 and up category, I think $2.99 is low enough to still entice new readers to give it a shot.
5. What if I re-formatted to include all three books in a single purchase? (It would be ENORMOUS, but I could do it).
I would be worried about how that would affect page turns on the e-reader. I don't know about Kindles, but on the Nook, once a file gets larger than 260KB, the page turns *really* slow down. I don't know how .amz files are structured, though, so I don't know if they're like .epub which is basically a zip file containing smaller files that can easily stay under the 260KB limit. (I could be wrong about the exact limit..but let's pretend it's 260KB for the sake of discussion.)
6. If I re-price, the entire trilogy is still less than ten dollars. Do you think that's reasonable?
Absolutely. It would even still be less than the price of one of the DTB versions.