Long copyrights aren't to protect older works, they are designed to protect newer works from having to compete with older works.
I wish I had mod points!
I agree this is a good thing, but until the infrastructure for internet connections are good enough to get the quality of video / audio you get out of blu-ray I still want the disc by mail option. The other part of this is that when you eliminate the disc by mail you also eliminate the commentary options along with other nice extras that the discs have which get removed for streaming. So I think that both services have good reasons to keep them.
Several of the blu-ray discs I've gotten from Netflix recently have had the extra features removed. I suppose the studios think that after having already seen the movie I'll rush right out to buy the disc just to see the making-of and deleted scenes.
Why herald the death of Blockbuster?
Two words: late fees.
Lead me not into temptation... I can find it myself.