I have a few old coins that show George VI's profile on them, and were I to take them back to Canada or England, I'm sure they'd still spend without anyone so much as batting an eye. Same with all the coins and stamps that have Lizzie's image on them.
Regarding the Royal Warrant packaging saying, "By Appointment to HRM Elizabeth II", I'm sure there are some people who will collect and hold onto to some of them, in much the same way people here in the USA collect things like Wheaties boxes with the various athletes' pictures on them
(I'll admit that I'm still holding onto a couple of unused paperboard USPS 'Priority Mail' mailing envelopes that celebrate Lance Armstrong and the USPS Cycling Team). Other than that, Chuckie III will probably renew many of them; the label-makers will have to change two words (from 'HER' to 'HIS' and 'Queen' to 'King'), and life will go on.
And snail ... I believe they used whatever was the "0fficial Portrait" at the time, and as she aged there were several of them, although with regard to postage stamps they eventually decided that a mere silhouette of the Queen would be sufficient. It is interesting, though, to go through pictures of old banknotes and see the differences in the portraits from, say, the 1960s when she became the first English monarch to have their image on paper currency, on through her reign to the current round of five- and ten-quid notes now in circulation.
-"BB"-
Yes, I suppose I could agree with you ... but then we'd both be wrong, wouldn't we?