I agree with *most* if his points, but not being able to play offline at all would be bad. I sometimes take my console over to my friends - they get to experience new things and we all play. Always on would end this in many places.
Plus, I've been without internet most of this week. I live in a major city, but we had problems this week, and not being able to play any of my games would make it even more frustrating.
I skipped Diablo III because of it's problems and canceled getting the new Sim City, because it was even worse. I started Tropico, and totally and unexpectedly happy with it.
So most of the time Always On wouldn't matter, but it might be enough to lead me to a different service. As it already has with other games.







