Melch,
I can think of 3 since Option for Change, one conducted by an RAF senior officer and 2 by a joint team. Much focussed on the requirement to man and support so many DOBs (hence the CMR) when no-one could imagine a situation where so many would be required. The studies also looked at sqn structure whereby a sqn appeared to be manned for, say, 14 aircraft when actually there were only 9 or 10 on the front line strength , the rest were in depth maintainance etc - the RN certainly only manned to the front line strength (ie 9-10 a/c). Your "white ticket" calculation also made you look over-manned compared to the RN and Army.
Re "what should we drop?" One of the first things you could do is extend your deployment lengths beyond 4 months and one day (or whatever it is). It has just been reported that PW is going to the FIs for 6 weeks rotation - what does such a short rotation cost? Why not 6 months rotation like the RN do down there.
Odigron,
Not sure I understand the 'once at sea, stay at sea' bit - could you shed some light?
Cats and traps flying requires constant practice and is not something you can hop on and off with (as the RAF did with Harrier). The USN flies daily at sea for pretty well the whole deployment - just look at the many videos to see why constant practice is required.