much ado about nothing
The only times I buy PPV movies is when the release is new but not available on redbox yet. It cost $5 to rent movie in SD and $6 in HD through U-Verse.
I find similar VOD services like Xbox Live Marketplace, Sony Entertainment, run equally expensive. iTunes and Amazon Instant Video are $1 cheaper. I never rent movies from iTunes, because they prevent from displaying HD movie on my large TV screen with stupid HDCP restrictions.
If you subscribe to premium movie channels or get $5 a month screen-pack you can have unlimited access to some older titles like with Netflix. In case of premium movie packages, the titles are actually little newer and more recent but of course you won't find as recent as on VOD or redbox.
The point of VOD is not price but convenience. I live in Chicago area and its been snowing outside all day. Why bother with snow to go to a nearest redbox half mile away from you 2 times, when you can have a convenience to rent movie straight from your couch.
In addition, in practice you are more likely to spend money if you go to a redbox location which is often in Walgreens, supermarkets or gas stations. You have movie for $1.50 for 24 h great, but while there why not get beer case for $10 or pizza for $6. You do not travel all that way from home just to get a movie, do you?