I actually kind of feel like initiative in 4e is a hold over from a time when there was more chance to kill a monster if you went first. For example, in 3e, a first level PC versus an orc, the PC is much more likely to survive if he/she has initiative.
In 4e, that first blow will not really kill the orc. Even with focus fire, the orc may survive.
I would have to say I don't agree. In my home game last month was our 2nd session so naturally the players were still level 1.
Shade Rouge used his daily hand spring assult to prefore a charge which he had CA for allowing hime to throw in his sneak attack damage.
31 points of damage total rolling I think it was 5d6+mod total. The monster was an Elven Archer and only has 35 HP or so. The Wizard was able to shoot it with a spell and finish it off leaving my other 3 PC's to attack something else.
Now yes I will admit that he had to use a Daily and roll almost a 6 on every roll to get the damage that high but it can be done.