I would not miss Guitar Center, much in the way I did not miss Circuit City.

This is the heart of the issue. When people do not have a connection or desire to continue visiting places, they are more and more likely to begin purchasing things online. It takes less energy and is usually much cheaper. The only reason that Guitar Center has lasted this long is (1) people like to feel guitars, play them, look at them, and dream about them before making such a huge and personal purchase and (2) the shipping risk and expense is far greater than your typical packaged good.

However, just because people aren't buying less guitars at Guitar Center now doesn't mean this won't change in the future. Borders never figured that Amazon would become so huge back in 1998. I'm sure someone will figure out how to do instruments online which will wipe out Guitar Center pretty quickly. If not, the sales will continue to be mediocre and they'll eventual stagnate their way to a quiet demise. I look forward to a world with smaller shops filled with passionate people. We recently had a SciFi bookstore open in my town and next door an independent coffee shop. It's a very nice to see this instead of the typical Barnes & Nobels + Starbucks on every corner.