Fair enough on the old hardware point. I agree that digital is a better route to go for long term preservation. I just don't think there is enough interest to force the hand of big companies to do it for us. It takes those who are interested in finding ways to make it work. To put the demand on Microsoft or Sony or whomever isn't the solution either.
As for the expensive titles, those are few and far between. I am referring to the hardware which there tends to be thousands of machines laying around gathering dust. Most still work and are inexpensive.
Why do I like to watch old movies? Because I like to, sometime the classics are the best! No one has found a way to top them!
Just to connect the old movies to the issue of backwards compatibility, when DVDs came out, they couldn't play VHS tapes. People either kept their old stuff or moved on. They even made machines that would take both. There was no "backwards compatibility." Now, to be fair, Blu-Ray players can play DVDs, but will this always be the case? Or will some other upgrade render old DVDs obsolete?
Or, better yet, if they can improve the quality of a movie by releasing it on Blu-Ray, then why would you want to watch the inferior version of the same movie? This can open the conversation into re-releases of media such as movies, games, etc. For example, I am looking forward to the new Grim Fandango, but it is the SAME game. Should I move on and enjoy the newer version or just play the old version that I have? I gladly purchased the Halo Masterchief collection. One of the reasons was the remastered version of Halo 2. It is fantastic. Would I ever go back and play Halo 2 on my first gen xbox? Not a chance.