It's funny the things we used to do with vinyl trying to achieve the fidelity that we now take for granted with CD's. Upgrading cartridges, arguing straight tone arm vs S arm vs tangential tracking, moving from belt drive to direct drive and back to belt, careful cleaning of the vinyl before each listen, as well as the needle. And no matter how well we took care of them, each listen caused deterioration. I used to record a lot of my albums onto reel to reel to preserve them and so that I could listen for more than 20 minutes at a time (especially important for parties). And even for that, I'd use only certain tape, DBX noise reduction, higher tape speed, etc. A lot of work...
So for convenience, CD's win hands down. You can listen to hours of music and not even touch a CD, and the 20th listen is as good as the first. And no need to jump up in 15 - 20 minutes to turn the record over.
For dynamic range, low noise floor and true high fidelity potential, CD's again come out on top.
But there is something to be said for the warmth and natural sound of vinyl. Give me a well recorded and engineered vinyl recording over a mediocre CD any day (and vice versa). I have a MFSL copy of DSOTM on vinyl that imo blows away the CD (though I'm looking forward to hearing the sacd version). I even like the sound of the needle gently touching down to start the album, although I realize that's probably just part of the whole vinyl ritual and shows my age.
I guess each has it's place (especially if you have a large vinyl collection). The vast majority of my listening is to CD's so that says something right there. You can't beat the convenience, they sound great (for the most part) and let's face it, we ain't going back to vinyl.