Good thread and very relevant topic. During the Ice Storm of 2009, we were the only house in the neighborhood that was prepared to be without power for any period of time. We were out for 8 days and could have gone for 30 days pretty easily. This ended up being a great, real world test for us. Bugging out was not an option, we have pets and I was not going to leave my home and personal belongings for some scumbag to steal. We kept an eye on our neighbor's homes while they were away, which yielded large amounts of beer for me when they returned.

The biggest things I learned were that I need more gas for my generator, need an alternative power source that is silent and need to store enough food and water for at least a year.
We rationed the use of the generator for hot water for showers and keeping our refrigerator/freezer cold. During the "on" times, we charged devices, batteries and watched TV/ checked email, etc. I've started putting a solar backup together, but don't have all of the components yet.
Bugging out is only an option if there is absolutely no choice, and our destination is not compromised and reachable. We've improved aspects of our home for staying put and have put together plans for all scenarios that we can think of. For us, Bug Out Bags are for getting home, going camping/hiking, hunting/fishing and recreation. The only other use for me is as a tactical assault bag if I ever had a real need for it.
A very, very important lesson I learned from this event is that most people, even after experiencing a disaster/emergency, will do NOTHING to improve their preparedness. These people are the biggest threat that a prepared person faces. They will be the first at your door, expecting to be welcomed into your home, with little or nothing to contribute, they will say that they are your friend, even though they can't be bothered to say hi to you on a "normal" day and when you turn them away they will jeopardize your family's safety by telling others what a jerk you were and how you have tons of stuff, but won't share, even if they have no idea of what you do or don't have. Only one of my neighbors knows that I have anything more than a generator and like to go camping. Of my six immediate neighbors, only one has done anything to improve their situation for the next event. She was also the only one, other than us, who stayed put, she likes camping too and put her gear to good use. She is the only neighbor that I would welcome into our world because she is an asset to the "team", has useable skills, expects nothing for free and is a hard worker. She realizes that there is strength in numbers and that we are an asset to her, and she to us.
Bugging out is only an option for us if death is certain and the odds for survival increase with that choice.