All Sony have to do for me to be completely happy about this is to allow be to buy only the single player campaign of a game for a (significantly) reduced price. They can make the online mode a 100kb unlock key for the stuff on the disc so you don't have to download it, but I shouldn't have to pay for multiplayer content that I quite likely don't want and can't use without an additional fee.
Assuming PS+ stays as good as it is now (which I'm worried will not be the case) then I'd be happy to stay a subscriber in that case. Perhaps people will think I'm stupid, but despite being a happy subscriber, I still don't want to buy a PS4 simply because of the fact that online play is tied up in the subscription.
This makes me really angry at Microsoft (and, to a certain extent, their supporters), too. If it weren't for the Xbox One DRM and XBL Gold, Sony would be getting huge amounts of flack for this decision, but as it is people are actually celebrating how great Sony is and how they care for their customers. I always saw XBL Gold subscribers as a bit daft, but I thought their willingness to pay for things that were free elsewhere wouldn't affect me. Now though, because people were happy to be ripped off in huge numbers, Sony are adopting the same strategy. I realise that from a business point of view this makes perfect sense, but that doesn't make me happy about it.
Call me an idiot if you want, but if the PS4 was £450 with free online, I'd preorder one now and keep paying for my PS+ membership, but the mere fact that that membership now includes something that should be free puts me off the console to the point that even if it cost £250 I'd still be unsure of a purchase. I realise this sounds daft, but it's not just a matter of principle: I can see the quality of the PS+ service dropping significantly as a result of this (after all, they could just never scale up the quality of the PS4 IGC beyond the current "1 cut down game or small indie title per month" and no-one could complain that they'd ever promised anything more) and there is also no guarantee that they won't raise the price of PS+ in the future (I believe MS did at least once during the 360 lifecycle with Gold).