When I started Glerin in 1996, many "experts" were already prediciting the death of print collaterals. While it's true that many print items aren't needed any more, the internet has actually been good for the print industry - but only for quality printers who have adapted to new markets. There's just something about holding an item in your hand that can never be replaced.
Due to advances in color printing, you're now able to use print materials in a more discerning way while using your website to present content that is apt to change. Being able to take advantage of short print runs lets you create unique, high quality pieces in small numbers and when you're ready to make a change you don't have thousands of copies to throw away.