What is interesting is in some ways we are moving towards (back to) a more oral tradition. As our machines get better and better at understanding us we will inevitably do more talking and listening than writing (just look at how people are starting to dictate their text messages). I recently had a conversation with someone who postulated that our ability to write would disappear entirely. I don't think so, certainly not in the next 200 years or so. Our ability (and need) to express ideas through writing and imagery is much too ingrained in our culture to die out quickly.
Ultimately Cerf may be right, but perhaps not for the reasons he thinks. We will certainly lose a historical record of civilization but it may be because we stop writing.