Disc-Swapping? That' such a rarity these days, especially as more games should take advantage of the upcoming blu-ray storage spaces. I say that as I play Splinter Cell and move onto the second disc.
Anyway, I love physical copies, as I'm a collector and love having a solid library. Not to mention I love pre-order and getting special packaging or goodies with my game.
Not to mention, if I have the physical copy, I actually OWN my copy of the game, and can give it to a friend, trade it in, or resell it if I want. It's not just a license dependent on the availability of a distant server.