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Considering printed books are already being replaced with electronics, there's really no reason to debate this as a "yes" or "no" question. To be clear, what is worth debating is what the eventual state of printed books will be: Boutique item; heirloom; Wall-Mart end-cap product; fishwrap; museum piece; no change, just fewer of them?
I'm going with boutique item/heirloom. Only special books will be put on paper and cherished over time... the (pretty much) 99% of the rest of literature that we print today, including periodicals, textbooks, entertainment, etc, will end up electronic.
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