Since last time, I've given Spotify and the Premium some serious thought (including whether I should get me a Smartphone or not). I have decided not to upgrade, in stead I've cancelled my "unlimited" subscription, downgrading to the free version.
I still want to be able to take all my music with me, which means that currently an IPhone can't replace my IPod classic. And I remain a veryr unwilling cell phone user, I take it with me only when I absolutely have to (I LIKE being unavailable when I'm ... eh ... unavailable).
But the major issue is that despite a truly impressing catalogue, a lot of the music I like to listen to isn't there. For some bands it's probably not Spotify's fault: Pink Floyd is missing, as is Tool (the latter is also not on ITunes store). I'm more puzzled that most of Porcupine Tree's music is missing. Among bands not there (except for possibly a track or two) are: Rhea's obsession, Where angels fall, Astra (The prog rock band - there is pop artist/band with the same name), Blind Ego and White. Not particularly well known bands (although White is a project by Yes drummer Patrick White), but I like their music, and I like finding bands like these (Emusic is a great source for out of mainstream/esoteric music).
So, for the moment, I've gone back to using Spotify strictly for test listening to music I will eventually buy (in those cases the music is actually there), and for that use, the free version is sufficient.
@GG: Thanks for the input.
BTW, a safe bet is that within 10 years or so I will have a smartphone (possibly because those are the only ones available), and maybe I'll go for premium then (possibly because a lot of music is only available on spotifyish services).