This is why I still support litecoin even with the ASIC drama going on. Paying $5 in bitcoin is not really feasible right now given the $.40 fee but paying $5 in litecoin is a $.02 fee. I think they compliment each other, for now, until the BTC devs figure out a better fee scheme than what exists today. Their is room for a single crytpo wallet that lets people store and use the various coins that make it through this year with valid support/dev.
and if you get paid in BTC, your "salary" doesn't go down every month, you still make the same in fiat terms, bitcoin is just worth more. Ask Andreas if he minds...
I think that LTC could very well be used in the future for day to day transactions since the confirmation speed is quick also. I could see a day where BTC is used mainly as a store of value, and for purchases of large items (i.e. Cars, homes, etc), and LTC used for thinks like (food, clothes, etc)