will the day come when?

If you look at the fact that good old RB cd sales have stood up to over 20 years of other formats coming and going (eg. DCC, minidisc, and even mp3 and the recent stalling popularity of HDCD/SACD/DVD-A), there's your answer.

Given the size of the CD back catalog & individual CD collections, plus the backward compatability of DVD players and the simplicity of use, I can't see CD's being made redundant in my lifetime.

Discrete CD players may become hard to find, but I reckon decent Universal DVD/Harddrive players will be around for a long time.
Given the amount of money MR & MRS Average (like me) have invested in CD's and DVD's over the past 20+ years, it would be a brave manufacturer who stops making backward-compatible players. I know how popular mp3 is now, but as was pointed out already, broadband/cable internet is still being rolled out. And if you make up your own mp3 library, where are you likely to rip from? Your (and your friend's) CD's, where you can set the compression you want.

Personally, I can't be bothered with audio files. I have an mp3 player that now mostly gets used as a radio, because I don't want to spend ages in front of a computer ripping CD's or downloading & transferring files, to then try to listen with headphones on a noisy train. Why would I, when I can listen to crystal clear music from my CD's through my home system.

Maybe I'll get a hard drive server one day and dump all my CD's uncompressed, but I'll still want it to have a decent CD player built in.