I think I'd prefer to pay up front. I don't mind the DLC's, but this year's Tiger Woods game irritated the crap out of me, as the full season is filled with courses that don't come with the game. I guess free up front is preferable to paying full price up front, and then having game content withheld for future purchase.
This is not the future, this is the present. Free to play is huge right now.
Yeah, I don't really see this taking over for the triple A titles like a Call of Duty type game. For smaller social games maybe, but honestly after playing a couple of those I get ****** off that I can't progress any further without getting nickled and dimed out of real money, so I just quit and move on to the next one. This business model has some major hurdles to clear before it becomes the norm.
Major releases have gone free-to-play, the Star Wars MMO for example, LOTRO MMO also.