If the block size limit is reached (for the average block), miners will implement algorithms to select transactions to include so as to maximize the fee collected. This will drive up the cost of fees as people compete to have their transactions included in a timely manner. Let's keep bitcoin the cheapest transaction processor around by avoiding such a scenario!
Let's not! If security needs to be paid markets will understand and self adjust. Why take it over limit and be sure small time merchant and miners can't keep up with bandwidth and storage requirements. It will be feasible in a few years though.
Lets.
Already controversy is brewing... Already businesses are starting to back away from bitcoin because if the block limit isn't raised then one of three things will happen: 1. Bitcoin fails. 2. Bitcoin gets used only for moving large amounts of money and other cryptocurrencies take over eventually displacing bitcoin itself. 3. Bitcoin gets used for only moving large amounts of money and "bitcoin clearing houses" fill the gaps, which increase the risk of fraud/theft/unaccountability, add avenues of attack, and form REAL centralization. Not some hypothetical BS.