There is no such thing as too much MMA for the guys in this thread, but you can oversaturate the market and drive away casuals from buying ppv's. To me, that's why the non blowaway shows have struggled.
-UFC does roughly 8 free shows per year
-WEC does about 4
-Strikeforce is going to do about 20 this year
-TUF
-DREAM, Sengoku, and MFC on HDNet do about 3 or 4 each
-Bellator has a new tv deal, they will air weekly in 2010
-M1/Affliction Challenge on HDNet
That's just the free stuff. Even if you just follow the big 3, you get two or three shows a month, minimum. Now tell me why Johnny Liddell Fan is paying for Rashad/Silva when he just laid out $50 for a ppv in december, and has a Fight Night & Strikeforce coming up? Plus, he just watched a 7 hour DREAM show, even though it took him a week on his dvr.
Two years ago, I paid for every ppv. No reason to do that anymore. Plenty of good stuff to see every month.