I would still prefer it on blueray, disc swapping is a thing of the past for me.
A disc swap is much, much quicker. Until the issue with slow BR which has plagued the PS3's life so far is sorted then BR won't be the right format for gaming. I did say this before the PS3 was released and it's come to fruition.
There is no way 8 minute installs followed by more than 10 minutes of further installs during a game is 'the future', which it would have to be to consider the alternative 'the past'.