I think the UFC has made a few mistakes...
Leaving Vegas; Vegas is a great place for the UFC, you can get a cheap flight to Vegas from anywhere in the US, and hotel rooms are always available and inexpensive. Also it's just a fun place to be, and easy to navigate even for a first timer.
Having to many PPV's; Once a month is just toooo much, the UFC does not have enough fighters under contract to create a card worth paying for on a monthly basis. Boxing, with a much more established fan base is hard pressed to do a large PPV every month, and boxing only needs one big fight not a whole card to justify the price tag, the short duration of an MMA fight means that the card needs more fights to justify the expense. It's just not that big of a deal, and not that much of a build up when PPV's are coming every month, plus we have a fight on TUF every week, throw in 4 UFN's a year, and Pride... the market is saturated.
They need a big former fighter on the announcing team. Joe Rogan is great, but the rest of the team is sub par, the fact that they don't have an MMA fighter is criminal. Someone who has been in the cage and can commentate from a fighters perspective is a must.
Not signing guys they should, they are making enough money now that they should be getting big names. Belfort may not be the name he once was, but he shouldn't be fighting in a competing organization, if Overeem is available to Strikeforce, he should be on the UFC 60 card. Frank Shamrock should be under contract. As excited as I am to see Royce in the octagon, I can think of a lot of exciting fighters they could have signed with $1.3 million.
Not finalizing cards, it's 12 days before the event, and the card for UFC 60 is just now finalizing. they really thought that people would buy tickets to this event based on the Royce/Matt fight, and when it didn't happen they had to scramble to build a card.
Pulling someone from another sport, go get a journeyman heavyweight boxer with a bit of a name, and pay him to fight in the UFC, let him get schooled by an established MMA guy, this will create huge buzz, and add a lot of meainstream media outlets to the sport.
Pricing, obviously they are very close if not overpricing the arenas. For all the BS about the Pond selling out in 2hours, you could buy floor seats in the first 10 rows in the days leading up to the show, and you could get very good seats below face value at the box office the day of the event.
The Staples Center is far from sold out 12 days before the event. You can probably charge $1k for the first 3 rows, but trying to get that kind of money for the entire floor is to much, a lot of those are not great seats. They seem to forget that the fan base, is largely 18-34 year old guys, and at least the 18-25 year old part is not a demographic with this kind of bread in a lot of cases.
Short version, less PPV's, better fights, better pricing of arenas, better broadcasting team, better planning.