It's kind of a moot point if you intend to play games online since that one little, yet major feature is now a pay wall requirement.
In defense of PSN+, I really don't see how SCE could make the service a better deal (short of just doing free online play again) as the paid service grants access to several full games, extra downloads, discounts, etc. etc. each month. If one actually plays on a regular basis and buys content from the PSN Store, the subscriber can recoup the cost of the service fairly quickly.
On an extreme level, the service can even serve as a replacement (albeit a limited one) for buying new games. You just won't have access to all the latest as they are released for pretty obvious reasons.
As far as the free games "going away" (technically, you lose your access if you stop subscribing), it's not really an issue if you're planning on playing online since you're already paying for the service and your access to the library of games you gained access to throughout the course of your subscription.
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