I do a mix of both as well. My "local" bike shop is 45 miles away. The one I consider my local bike shop is one of the best there is. If I am in the area I always stop by and purchase something.
I bought my bike online though and I do all my wrenching. I buy most of my gear online as well. I got a good on my bike and it doesn't make sense to drive 45 miles to have my bike worked on when it's very easy to do maintenance. I have been very shrewd buying anything online because lets face it, none of this gear is cheap no matter where you buy it.