I usually use bulk buys for grain, ebay or site retailers for stainless and other plumbing parts (LHBS does not stock), my LHBS for any spec grain, yeast, hops, gas refills and a good yarn.
When I first started it was 100% my LHBS (wider selection of kits)
Something you cannot buy that you will get at your LHBS is advice, even though his prices are higher than elsewhere I still support mine where I can - with the homebrew supply industry getting more competitive and online stores popping up every week the storefront guys are feeling it - and when they are gone they are not usually replaced.
Support your LHBS