Bitcoin is a protocol which can be built on top of.
Bitcoin is not the end-all be-all to its own functionality.
Services can be created on top of the Bitcoin protocol which provide instant transactions necessary for different types of commerce.
We need to stop thinking of Bitcoin itself as the "whole package".
It is a foundational layer like TCP/IP. On top of that layer, you've got Ebay, Monster, Esurance, Napster (lol)...etc
On top of Bitcoin you've already got MasterCoin Foundation, Gyft, and even insurance services guaranteeing the security of your wallets.
Much more is coming.
-B-
Bitcoin is supposed to be a currency controlled by predefined algorithms, the rational behind using bitcoin is that traditional fiat currencies are getting devalued by governments and gold is hard to verify and transport.
if by services created over bitcoin to provide instant payment you mean a third party company that clears transactions then we might as well just use fiat money, because this clearing company can now print bitcoins out of thin air just like banks do today.
if the transaction is not processed and verified on the blockchain there is no point in using bitcoin.