I can see the purpose for both. CD's are much cleaner sounding and more portable (obviously). The only thing I dislike about CD's is that most of the time the packaging is boring as hell and I don't use a CD player for anything, so whatever CD's I purchase get ripped into my library and put back on the shelf, hardly ever being touched again. I just don't feel the need to spend money on them.
Vinyl has more of a natural sound to it. A lot of older stuff, especially stuff that has never been properly mastered for compact disc (The Beatles, anyone?) and pretty much every jazz album ever just sounds eons better on vinyl than CD. Then there's stuff that's never been released on CD either, so throw that in the "pros" column. I also find bigger artwork to be more pleasing to the eye. I don't know what else to say. It's just a lot more "fun" to collect and listen to, I guess.
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