This article reports how the American Society of Cinematographers is responding to digital cinema (with thanks to the E-cinema Alert for this link). While they seem to be embracing digital cinema, it's interesting to read the comment that 'major' movies are expected to be shot on film for many years yet: "The studios are not, as a rule, going to spend 60, 80, 100 million dollars on movies shot digitally, and it actually benefits the intermediate process because film provides more information to extract."
Compare this with the debates about audio recording formats, including this choice quote from Neil Young about digital recording throwing the baby out with the bathwater: "along with the hiss went depth of sound and the myriad possibilities of the high end where everything is like the cosmos, exploding stars, echo. From the 80s on, no records contain that kind of quality any more and those are the very things that stimulate the human body into reacting, feeling, and enjoying music."