I like to go to the LFS for smaller items and livestock. If It is a big purchase and I can save money online, I buy it there. I have bought a few smaller things online lately, only because I have been working so much and I haven't had time to go out.
BUT,,,,,you can't beat the service from some LFS. Yea, plenty have guys that have no clue, but I have been to two that are extremely helpful. One of the stores, I will tell all the clerks I am all set until the guy I like is free and go to him.
I went to B's Store and he spent plenty of time chatting to me and helping me out with a few questions. He was more then helpful. You can't get that online. If I found something online cheaper, I would ask my LFS if they can match it and I am sure they would try if they could.
So, I agree with both schools, but if we buy everything online, we won't have the LFS to go to. I personally like going there to drool.
One thing that this discussion reminds me of is a discussion on big box stores and electronics... people always complained about the price in the high end stores and the service in the big box stores. So what happened is people would go to the high end store (Tweeter) and talk to the knowledgeable salesperson for hours and then head across town and buy it at the big box store (Best Buy)
The one rule I have is that if I discuss a product with a specialty store (LFS) and they can come within 15% or the big box store (Mail Order) I buy it at the LFS. If I do all my research online that 15% drops down to about 0-5% depending on my immediate need.