There's a lot of theory here. I've never done any transaction of less than 1 cent, and I don't think I will ever. Faucets? Websites that give free money? They're all doomed. Can anyone seriously believe they will keep on giving money forever? When we will have reached the 21 millions limit, nobody will give out satoshis anymore.
That make gambling sites the ones with the most to lose here, but I'm sure they can adapt. Right now, in Las Vegas, you can't play less than a dollar.