I think there is a place for both and would hate to see the printed versions go entirely extinct. I'm way too impatient to wait for Windows to boot up every time I need to look something up!
On a more serious note, I think if I were told I had to give up my hard back copy, I'd put up a good fight. It would be like having something very valuable and being told to give it to someone else for safe keeping. There is always that chance that something might happen and you would never get it back when you want it.