Great questions...let me take a stab at it.
I think it is fairly common to separate belief and worship as two separate components of religion. But really, belief flows out of worship, and worship expresses what we believe. "Lex orandi, lex credendi."
The liturgy is more than a source of sacraments. The liturgy is life, and feeds us with the Word of God through prayers, hymns, biblical readings, and the Eucharist.
The liturgy is the school of the faithful.
As to what degree Orthodox faithful are bound by forms of worship, I think there is considerable diversity. Let's just take the typical Sunday liturgy: While it has the same basic form consistent throughout the Orthodox world, different local customs and practices will prevail depending on where you are at, in order to reflect the life of the community.
I think a major reason why we don't blend "contemporary" worship with traditional Orthodox theology is because the Orthodox forms of worship we have now are timeless. They aren't simply anachronisms; everything has a purpose. Certainly the majesty of Orthodox worship flowed from impressions made by the Byzantine Imperial Court, but in Christ, these things have taken on a Christian identity, and again, are timeless.
What most people call contemporary worship today is simply a form of entertainment in the form of uplifting songs and inspiring homilies. Certainly, faithful and pious people exist in these "traditions." However, the focus is taken off of Christ and placed on ourselves, on our feelings, on how we perceive Christ.
None of that matters. It's not about YOU in the liturgy so much as it is about Christ and His Body. We come together to commune with God and with each other, not to be entertained or inspired (although inspiration and piety can certainly be side effects of the liturgy.)
What could we take from contemporary Protestant worship that would add to what we have in Orthodox liturgy? Nothing. They have hymns. We have hymns that are majestic in quality and purpose. They have sermons. For goodness sake, we have Chrysostom, who may as well be speaking to us today - his words are still valid.
Contemporary worship flowed out of nominalism which helped spawn the Protestant Reformation. Orthodox worship is maximalistic. We give everything and our best to God (or at least try to.)
Yes, we've got our problems. Yes, people have misunderstandings about traditional liturgy that need to be addressed and corrected (such as misunderstandings about the frequency of communion, etc...) These points need to be considered by educated and pastoral leaders. But I don't think that we can equate "traditional" with "outdated."
Lest we forget, Orthodoxy IS an American institution. While Alaska wasn't a state then, there have been Orthodox present there since the 1700's. There have been Orthodox in the mainland U.S. since the early 1800's. We've been here for a long time, and outdate the presence of some "American" denominations in the States. Instead of insisting that Orthodoxy be transformed by American culture, I think we should focus on transforming the culture with Orthodoxy. That's not to say that advocates of contemporary worship can't teach us a thing or two about theology, etc... Modern, non-Orthodox theologians and scriptural commentators like L.T. Johnson and Timothy Hayes are read in our seminaries to great effect. Good and well. But I think we have a treasure in our worship; we just need to take a look at it to recognize it.