R.I.P paper books?

There's been some hullabaloo in the blogosphere about the inevitable end of paper books, e.g. www.michaelhyatt.com. What do you think? Will it happen? Will paper books be a historical curiosity some day? As an editor of an all-electronic 'zine, I have mixed feelings about this.
What happens when the EMP knocks out all technology?
Who updates ALL the old documents to ever-changing software every day/month/year? And what happens if they don't and we lose all knowledge of the past?
Wow! There are a lot of good speculative fiction story ideas related to this!
Insert your idea here. :)