An amazingly lucid discussion of the benefits of Vinyl over CD (or lack thereof) is going on over at Slashdot right now.  So far the trolls are straying away.  If you want some understanding of dynamic range compression, sampling, etc.  Check it out.

For the record, I'm in the CD is better camp.  It handles the frequencies that humans can hear (with perhaps a very small minority left out) and is much more stable.  Unless we are mastering CDs for our dogs to listen to, 44.1 is probably sufficient for a consumption medium.  Sure, there are mastering issues on many CDs right now but that's not the fault of CD but rather the process.  A CD without all those issues could easily be produced.