I do enjoy the convenience of digital titles; it's nice not having to swap media cards to play a new game. That being said, I'll gladly trade of the minor inconvenience of media swapping in order to have more peace of mind knowing that so long as there is functional hardware somewhere in the world for a platform, I'll be able to continue playing the games. So, I always go physical media when given the chance.
In addition, while account systems on PSN and Xbox Live are great, they don't ensure I'll have access to the content forever. I'm positive that they'll be pulling the plug on downloadable content for the current generation sometime in the next generations thanks to no backwards compatibility. Whenever download content sales taper off and it becomes unprofitable to continue hosting, I'm sure.
I think that's one of the reasons why people devalue digital content over physical. They don't actually own anything they can hold in their hand, and there's no telling how long they'll have access to it. I for one don't boycott digital content, but I sure as heck don't pay near what I'd pay for the same content in a physical form.
Once gaming goes pure digital (and we all know it will eventually), I'll likely slow my consumption of new content and wait for really good deals before buying anything. I'm nearing 30 years old and have an excellent collection of games for nearly every CD based format, along with all of my favorite cartridge based games downloaded ready to be emulated. There are literally hundreds of games on my want-to-play list, with some as far back as the SNES era, so I could never buy another game again starting today and game happily for the rest of my days.