I have no problem buying items at LBS knowing that it's a bit cheaper online, I often do. I support bike shops and I like seeing and trying things and not having to wait for them to arrive. Instant gratification. I am also confident that most feel the same way.
I do have a problem with LBS selling items MUCH more expensive than online shops. Like it or not, online shops are their competitors. If shops are unwilling to accept that fact and unwilling to narrow down the difference, then it's their fault. I'm certainly not going to lose any sleep over it.
Think about it another way, if you keep buying overpriced LBS items, then LBS will never lower their prices, driving more people to buy online. Are you really helping out your shop?
Eh, my only problem is when a shop offers to special order something but still wants to charge their high prices. They don't have to stock it anywhere, it's direct profit,and they probably get a similar wholesale cost as the online store. On top of that, I have to wait 2 weeks for it to come in, so why not match prices there if you can't do it on items you keep in stock?