Our culture tends to pick and choose from the best of either the American or the European approach. We don't always get it right, and the combination/middle ground isn't necessarily better than either of the alternatives, but I do feel like we have some general insight and sympathy to both the European and the American philosophies.
I've also lived as an ex-pat in Europe for 4 years working closely with both Europeans and AMericans.
In this regard, I think the American approach is superior.
1) Europeans are overly sensitive about "micro-friendliness". I've heard people complain that the cashier at the grocery store asks "How are you doing?". "They don't really care, why do they ask!"
I've had to explain that no, they don't care, but that moment of friendliness is still a pleasant one, and over the course of the day, all those moments add up to a generally positive contribution to one's existence.
Americans do take faux-friendliness over the top (especially if it's only reserved for the local in-group, see: southern "hospitality"), but I think the Europeans need to lighten up a bit.
2) While I don't need my waitresses to be so friendly to the point that they seem like they're flirting with you, the European waitstaff at restaurants are far from neutral, and are actively disinterested in your hospitality experience. This doesn't apply to fancy high-end restaurants, of course. But just a general casual lunch or dinner you're just not going to get the same quality of service as you do in North America.
While I abhor tipping, I can't help but think that it does create some positive incentives in staff here.