Similar things have worked in countries that aren't so under the thrall of the mighty corporation. I recall some guy in ... Russia? who struck out and reworded a bunch of penalty clauses for a credit card offer he got and mailed it back to the bank, which accepted it and issued the card. Cue much hilarity as he racked up a bunch of charges and then got it thrown out in court. (Actually, here's a link.. They eventually settled out of court for an undisclosed sum.)

Anyway, I live in Australia so my response to all these kinds of attempts at removal of my consumer rights is a drawn out "yeah, nahhhh"