If anyone has cashback bonus with a Discover card, you can get 50% off rentals. I pick up a 10 pack of rental tickets through Discover for $20 every so often. Our local store does participate in the no late fees, but it's only for 7 days. After that, they charge you the purchase price of the dvd - usually $18. At that point, you can buy it minus your rental fee, or pay a $1.99 per day "convenience charge" until its returned. I usually keep it 4 or 5 days until I get a message on the machine that the movie is due.
I live in a very busy suburb of Columbus, and our store does a ton of business. There's usually 3 or 4 cashiers working at one time. They do a nice job of keeping everything in stock. When a new release comes out, there will literally be hundreds of dvd's available.
If Blockbuster wasn't right around the corner, and movies weren't $2 a piece, I'd probably join Netflix or Blockbuster online. Much, much more convenient than waiting in lines and returning movies.