Delixe: After suffering through some truly awful DRM over the past few years I don't really consider a CD-Key even DRM anymore. Certainly not a serious one anyway, little more than a little nuisance. When I see people complain about disc checks and one-time activations it makes me laugh now as the Publishers would have it very, very difficult for us if they had their way. For example if I see TAGES mentioned I will seriously re-consider buying a game even if I really want it, I just don't want that on my PC and the less said about Starforce (or whatever they are calling themselves these days) the better.
Agreed on all counts. For me it boils down to convenience. And if in future I can't play the game because of DRM (even disc checks can really screw up compatibility) then there are always... alternatives.
By that I mean rebuying it on GOG of course. Heh.