Correct. You can still download free DLC by creating the account. The only method for purchasing anything (as far as I know) is to lend your account info to someone you trust in Europe to add funds to your wallet for you.
I know this was $37.99 at Gamefly recently, but Amazon is now selling this NEW for $39.99. Sorry if this is a repost - I did search before posting.
http://www.amazon.com/Midway-Unreal-Tournament-III/dp/B000V1OUVI/
I just signed up on Sunday (1 out at a time) and I received my coupon. Sorry to those that haven't. Argh.. this means I have to play through R&C as fast as I can as I wouldn't want to use it for this game (not much replay). Hope I can score CoD4 though.
Thanks for the heads up. :)