Perspective using a recording engineers hat.
I will have one last try, putting this issue in perspective, wearing my senior citizens hat and recording engineers hat.
My first phonograph had a handle to wind the spring and had no electronics. I graduated to an electric machine and got hooked. I converted it to play LPs and added an external speaker. From there the addiction went from bad to worse.
In the LP era before noise reduction was added to tape recorders, the LP did a reasonable job of producing a pretty accurate facsimile of the master tape. However even then there was always the goal of reading a disc with light.
I do remember at the audio fair held each Spring in the Russell Hotel Holborn that Klipsch managed to fill their demo rooms playing first generation copies of master tapes that they seemed to have access to. They were on a different level altogether.
In the early 70s I got interested in making recordings. I had a small company that produced commercial recordings. After the introduction of noise reduction, there was there was the continual challenge of trying to squeeze the proverbial quart into the pint pot. It was a huge challenge working with skilled mastering engineers to get an acceptable product in the hands of the consumer.
After the introduction of the CD it was a straightforward process to get into the consumers hands an exact audio copy of the masters.
If you download this CD, which is a master from analog tapes,
http://www.drmarksays.com/ you will have to agree that this could not be reproduced like this from any LP, no matter how many thousands of dollars the turntable cost.
Now don't get me wrong. The LP can sound very good and it is a high fidelity medium. However even at its best it can not compare with a properly mastered CD. I still have good LPs of my productions, and I can compare them to the CD. No one I think would say any of the LPs are superior to the CDs.
So where does this leave the LP. First of all the maximal quality obtainable from LP does not justify the huge sums paid for these high end over engineered turntables. I'm totally unimpressed with these creations sporting cartridges in the thousands of dollars. To me most of them are hard edged and over wrought.
Now I and others really enjoy our LP collections. Some of us have been lucky enough to still have our turntables we have had over most of our lifetimes. The pleasure that comes from using the best equipment made during the hey day of the LP is great. In particular the quality of the engineering of my classic Garrard 301 turntables and SME arms is a great pleasure. Especially as they say "Made in England". Yes we could make real quality products in the west at reasonable cost once, and need to again.
http://mdcarter.smugmug.com/gallery/2424008#127077056
So in my view the reasons for owning good LP equipment are to play and or archive your existing collection. If you want certain material that never has or will be transferred to CD. If you want to have the pleasure of having and using fine equipment of what is now a bygone age.