ShinHakkaider
Adventurer
I don't know of too many placed where you can print out a bound copy of a 576-page rulebook in color for that cheap. Add in the high quality of Paizo's books and I think it's worth buying a physical copy of the rules.
As to local gaming shops, if they really want to see PDFs as a threat, then they're already behind the times. If they want to worry about a real threat to their bottom line, they can worry about Amazon.com. I could go on there right now and order the Pathfinder core rules for something like $35.
Near the end of 3.5 when I was still buying WOTC books I'd buy either from Amazon for a huge discount or Borders of an okay discount. I'd NEVER buy WOTC books from my LGS at full price (and for years and years I used to do just that until I got wise.) I'd pick up dice, Paizo Item cards, modeling equipment and the occasional magazine but not game books.
To be fair though, Paizo IS costing the LGS sales, but only because of their subscription service. Ordering directly from them and getting a discount AND the PDF for free is too good to pass up. PDF's help me prep for my games so much easier. But I'm probably in the minority in my desire for PDF versions of my hardcopies.