You see, I initially subscribed to Netflix because it had most of Star Trek on it - all the TV shows + many (I think most) of the movies. The ability to watch an episode every now and then was what kept me subscribed even through the periods I couldn't find anything else interesting there. Now, recently came a time I actually wanted to watch a Star Trek movie I loved ("Generations"). I looked for it, but it was nowhere to be found. Just gone. So was "First Contact". So were all the others (except the bastardizations of JJ Abrams). This prompted me to ask, what other (non-Trek) movies and series I loved and even watched on Netflix are still available? Turns out, the list of movies and series has been gradually decreasing behind my back. A lot of the interesting things I watched on Netflix, that I used as an argument to recommend Netflix to friends, are simply gone.
Torrents cause a PITA with storage management, but have this one lovely feature - once a file is on your hard drive, it stays there. And this generalizes to SaaS vs. local software and files, too.