i dont listen to MP3, i dont listen to CDs
i only listen to WAV
just kidding. but anyway, the death of the CD will effectively see the death of record stores. in that respect CDs will never be obsolete in the foreseeable future. however it is very likely that both CDs and digital music can coexist. in fact it is already happening (ever heard of itunes?)
i just downloaded the new NIN free album and it came in various formats, many of which were higher than CD quality. the album insert came in PDF format. and yes, they had the album in WAV format as well. not only that, the album was downloadable via torrents