I don't know about the rest of you, but I'm happy to oblige the 24-hour check for the convenience of being able to play a game without the disc in. My electricity goes down more than my internet, and even if the connection is down for longer than a day, I can just tether up with my smart phone for the authentication, and then I'm good to go. I don't reasonably expect to be able to play games without the disc without some sort of server-side authentication, so I'm cool with it.
On the other hand, I think you should have the option of playing with the disc in, without any restrictions, except maybe having to authenticate the game on that console the first time you put it in.
The mandatory game install has nothing to do with DRM, it has everything to do with load times and a guarantee to developers that they can develop for fewer hardware targets. However, MS did make it a requirement that the game is playable after the first 2gb are installed while the remainder is installed in the background so it's not as bad as what we currently know as disk installs.