I prefer MOG. The sound quality is better IMHO. Also 320, but without having to buy their primo subscription. They likely don't have the same breadth as Spotify and they've been bought out by Beats Audio. So who knows what'll happen to them. I use it exactly like Roscoeiii does. It's been great for exploring and shortlisting vinyl purchases.
I agree that CDs and lossy downloads as they stand today will die out for general consumers because of 'the cloud' and other streaming services. There'll be entities like HDTracks and Pono for people who want high rez files without a physical medium. And vinyl is not going away for a long time.
But I will never switch to a 100% subscription based model. It's not even a feeling of ownership as much as it's: no connection = no music. server down = no music. annoyed hacker = no music. Maybe I'm paranoid, but clouds, subscriptions, etc., bug me because ultimately somebody else can flip the switch at anytime for any reason and your sans sonics. I've switched over to Apple TV/Netflix/Hulu and cancelled cable, but that's because I don't care about it as much. It's been 75% reliable.