ET3D: ... A period that's outside publisher control is naturally the
most consumer friendly practice. ...
No, this does not follow naturally. The period was chosen by Valve, not by the customers and anyway nobody knows what consumers would do if they had their say and if under these conditions publishers would still be able to exist at all. You ignore that not every game is the same (length) and not every publisher can afford to make big long games. A fixed period threatens shorter games much more and I highly doubt that this is really in the consumers best interest. You don't want to make these distinctions probably because it would undermine your assumption that publishers cannot act very consumer friendly too. But they would if you would leave it to them to choose a time period you would get competition and consumers could just choose the game with the best value for the money.
This is almost a bit like socialism. Instead of letting consumers and producers haggle it out, the all dominating power in the middle just decides what is good for all. The surprise is a bit that it is actually rather more good than bad, except for very short games where it is more bad than good (for publishers and consumers alike) IMHO.
zeroxxx: Steam said they'll fully reimburse you if you buy something BEFORE sale and immediately REBUY the game on sale next day as a gift. It's covered in their refund statement. Just don't play the game more than 2 hours and / or try to abuse it.
That is nice of them. Although in general I would recommend to never really buy outside of sales, They are so frequent, every game is on sale like every 3 months on average and with price watching services like isthereanydeal.com one can easily stay informed without much effort.