Over my life I have had other anxieties that have come and largely gone. When I was a teenager I used to hear every tiny noise in the house at night and thought they were people breaking in (or I rationally thought it unlikely that it really was someone breaking in, but I reacted emotionally as if it was). For a year I actually slept in my mother's bed like I was about 4 - it was the only way I could sleep at all. Also I couldn't be home alone even during the day and even for a few minutes, I would just lock myself in the bathroon with a cricket bat, terrified the moment I heard a sound.
Eventually this got better, and it was really bad only for a year or so (after my father left and the house was burgled, so I had reasons to be not so good emotionally), but it persisted until I was in my mid twenties at a much lower level, and I still occasionally remember it when I am in a house alone at night. Although I have a flatmate at the moment, I spent about 5 years living in flats on my own and I really enjoyed it and didn't spend my nights in terror - so even if I have occasional nevousness, I can say that that anxiety problem is well and truly gone.
Also for as long as I can remember I was terrified of people crying, except babies and very young children. I started overcoming this fear at about 15. Now I'm pretty much fine with it, but again, sometimes I have to remind myself what to do.
So all my life I have had irrational fears, probably to the level that could be called phobias, although I never received any specific treatment until a few months ago (I have been on medication for years, but that was specifically for my depression problems). Because I have got over other fears, I believe I can beat my social phobia. But I don't think for me it will just vanish. I'm a really rational person in many respects, but overly strong "fight or flight" and irrational fears seem to be a part of me.
I also think that it is possible that I might develop another phobia later on. That would really piss me off, I have to say, but it wouldn't be the end of the world, likely I would recognise it developing, and know how to treat it. The second time I recovered from depression, and when I discovered that many of my genetic relatives also had mental illness problems, I realised that it was probably going to happen again, but it just isn't such a big deal or a disaster any more.
So this is a roundabout way of saying, I'm not sure that the fear will go completely, but I have confidence that I could reach a level where it isn't a problem. Also I agree with Richkid that there is a balance, a bit of fear is healthy and normal.