It's about time that US banks caught up with the rest of the world and put chips on all their cards, then we can finally get rid of the magstripes.
While chip&pin has it's security flaws it's way better than the 20 year old magnetic stripe system, in Australia and most of Europe the only reason they still put the stripes on cards is because the cards have to work when people travel to the US.
It's been at least a year since I've seen a reader without chip support in Australia and the only time the magstrip is used is when the chip or contactless read fails.