Of course convenience leads us all to CD. I have a good number of these now, and a Naim CD3 CD player.
What's prompted this discourse has been my purchase of a Squeezebox. This is a smart device, that runs an embedded Linux and hooks up through the wireless network to a fileserver holding audio files. The Squeezebox is in turn connected to the amplifier. It can play a wide variety of file formats, including mp3, ogg and flac. So. I've been ripping CDs to disk, and using the Squeezebox for playback. Is the quality good? Well, I guess not as good as CD, but that's countered by the sheer convenience!
So, where does convenience outweigh reduced fidelity? And at what point does convenience restrict the audio experience - for example I like to read the sleeve, or CD case while I listen, and that's not easy with ripped music.