Here are some numbers (rounded):
World War II
Total military force: 16.3 million
Combat Deaths: 292,000
Deaths/month 6,639
Viet Nam
Total force: 8.7 million
Combat deaths: 47,000
Deaths/month: 526
Based on the numbers, it doesn't look like MoH levels for Iraq are out of line.
Of course, there are always some undeserved medals given.
You didn't list how many MOH per war. I can't tell if its out of line.