In short, I got the SRIV game free when I bought a video card. What sucks is over a year after release and there's no option to just buy all the DLC at a discounted price instead of having to buy the core game plus all the DLC. Already have the game. Let me buy the DLC at the cost of the difference between the base game and the deluxe-mega-super-ultra edition of the game.
I honestly held off on buying the game after feeling like I got burned on SRTT. I'm having fun playing it now, but neither SRTT or SRIV feel like they have the depth of SR2. They look infinitely better and the promise of SDK makes me hopeful. I honestly wouldn't care about the DLC being full price if there was a complete SDK and the game was mod-friendly.
For ideas of DLC done well, I would look to Skyrim. New creature models, animations, sounds, quests, and abilities... and the game is mod friendly, but still sells a bunch of DLC. Saints Row doesn't need to be Skyrim, but for people to put their faith in SR DLC, Volition needs to think along those lines. Even the Borderlands franchise which operates on a very similar DLC model seems to pack more bang for the buck into the DLC (clothing excluded of course).