connectivity outside the US

What you are describing is reasonable in a truly open market environment.
However, the cost of committing to $650K to $800K for E1s limits the field
significantly. Especially when the carriers bid on a large portion of the
available bandwidth. The availability of 100G loops will be diminished by
the more financially sound carriers (i.e., Telstra). I think you know those
guys. When you look at the demand between now and the year 2000 and you
guys will be looking at consuming +200M of the bandwidth for IP services
and God knows how much for the more traditional services.

Even though the investment has remained relatively constant the market
pricing has not.

I don't see it being a game for the faint hearted. And the massive
consumption from the likes of AT&T, BT/MCI and Worldcom will greatly
influence the pricing. You may see a trend towards reducing the price for
the bulk buyers/investors, but it will not likely come down as fast as your
predict for the low to moderate users. Your assessment may be right, but I
am not so sure we will see it before the year 2000.