A European style government is far from perfect, but I think it's a bit better than the current 2 party system. But yeah, the morons in DC would never go for it.
I am not against term limits per se, but I do have some reservations about constantly having rookies trying to run the country. I get the idea of wanting to get the old cronies out, I do, but to set up a system that replaces people just when they are starting to get the hang of things, I don't think that's better. Also, if the concern is that people are taking advantage of the system for personal gain, all that term limits would do is make people be much more aggressive in vote selling, etc, because they only have a short time frame in which to make their money.