@Noxi, yes I do, I own a license for the content I bought.
In other words if my 360 is stolen, lost or broken I can just download another copy and carry on. With physical media, it is the single license, when it's gone, it's gone. Ask me I know, I had over R6000 worth of CD's stolen from me a while back . . .
Some people will always prefer hard media, no doubt, but it's fading, CD sales having been falling year on year for a while now. Since iTunes launched. I'm a ferret as well, I love having racks of CD's on my wall, but the reality is that I haven't doubt a CD in over 3 years, I buy everything online.
As far as the one copy for every device, that's changing massively, Apple and Microsoft are gong towards "personal networks" on which you can consume anything you own anywhere. For Apple it's about imacs, ipods and AppleTV. For Microsoft it's Windows Home Server, Media Centre, 360 and Zune.
As far as the guy with 100's of DVD's great, he doesn't need Bluray. A decent upscaling DVD player can do wonders, and is one of the major reasons I wouldn't pay a premium for HD optical media. It's just not worth it.