Back in the good old PSX days, I'd buy the Jampacks, and The Official Playstation Magazine (for the demos). I was also a member of the Playstation Underground. The free demos were pretty cool for a while.
After a while though, I only started playing the demos of the games I wanted to buy already, instead of every demo on the disk. Before long, my opinion became "Why am I wasting time playing this demo when I already know I'm gonna buy the real game and have to start all the way over?" Even now, looking at the shelves of PS2 & XBOX 360 games I have, I only see a few games (maybe less than 10%) that I actually played a demo of before I bought (of course, I honestly do download a demo for every Live Arcade game before I buy it; nostalgia can be a bitch). Hell, Mario Kart for the Gamecube came packed with the only Gamecube Demo I ever saw, and I didn't buy ANY games on that disc. And, the demo for Tenchu Z actually made me NOT buy a game I intended to buy.
Of course, this is just me. There may be another gamer who's downloading demos and buying games they never even knew they wanted to buy.