When it comes to albums it really depends on what you want to do with it. If you want an album merely to show all your friends your special day then an online album is a great choice. Make sure to see how long the album stays online though.
However, if you want an album because you want to not only show everyone your special day, but you also want to have an artistic represenation of that day forever bound and held by you, then I'd go with the hardcopy.
While it is true that if you have a CD with the pictures released to you, you can make an album, the quality of that album depends on where you go. As a photographer I have certain companies that I can use for making albums that the general public cannot. I can make fine art books from these vendors. However, if a bride doesn't want that type of album I can always go with a more affordable choice. The quality doesn't match the fine art albums, but it is something that you would be able to access. Just do a search on photo albums.