I cancelled my pre-order for Bioshock Infinite because Steam offered what I saw at the time as "day 1 DLC", and paid half price for the game a couple of months later. You want to sell me half a game? Fair enough, but I'll wait until I can pay half the price.
Of course it turns out that on this occasion I picked the wrong target as they are doing the DLC thing right (they started work on it after the main game was complete rather than it being cut out of the main game and sitting on the disk from day one ready to be activated by a DLC code) but that wasn't made obvious in the sales blurb I saw at the time.
But my principal still stands: if the DLC is genuinely an extra or an extension then I don't mind, but when it seems to be a core part of the content removed to get a few extra $ I'l adjust what I'm willing to pay for the main game accordingly.