Didn't read all of the posts in the thread, so sorry if this is repetitive.
For once (and most likely, only once) I'm in agreement with the studios on this one. I'm 100 percent behind the music strategy where you buy it and keep it. Subscription makes no sense whatsoever in the world of music.
But movies are a different story. Unlike music, I rent far more movies than I would ever consider buying, no matter how cheap the purchase price is. And, unlike music, which I will listen to over and over again, I'm much more likely to watch a movie only once, and never have much of an inclination or desire to see it again (especially the stuff they put out now-a-days). That doesn't mean that I don't own movies - I do. It's just that the lion's share of my movie viewing dollar goes towards rentals, and there are very few movies that I care to see more than once, and even fewer that I care to own.
It wouldn't matter to me that purchase price would be approximately the same as rental - if such a thing is even being contemplated, which is hard to imagine. It still a lot of storage and time to download the thing, and in the majority of cases I'll have to go to the trouble of erasing it when I'm finished watching it, as I try to keep my hard drive free and clear of junk I don't need. Just steam the damn thing to me, please! Then, if i really want to buy, present an option to do so. Subscription would be all around perfect for this sort of thing.
And all of this depends on one essential requirement: that the content offered is, at a minimum, the same quality as today's DVD. If it isn't, all bets are off. Not interested. No matter how cheap or how fast the download/stream/what-have-you is.