As someone in his 60's, I grew up collecting LP's, and have a lot of good memories associated with the old vinyl donuts. The ritual of playing LP's still appeals to me: cleaning the LP's, cleaning the stylus, lowering the tonearm in anticipation of the music and hustling to my easy chair before the music starts, the occasional tics and pops, etc. I also enjoy reading the jacket covers while listening to the album -- hell, I even enjoy the smell of old LP jackets! Pulling down an old LP that I've heard many times is like seeing an old friend after a long absence -- and I never get that feeling from the same recording on CD.
Ultimately, however, it's about the sound quality. A really good LP recording still sounds better than all but the very finest CD/SACD. Perhaps it's the additional work of preparing an LP for play -- it's said that we have more appreciation for something that requires personal effort. Admittedly, when I'm feeling lazy, I enjoy the convenience of CD's, but I also find that I tend not to concentrate so carefully to the music -- my mind wanders more...
But, like TWL and the "Smokester" say much more succinctly, "it's the sound" of LP's that keep drawing me back. I am planning to upgrade my VPI HW-19 Mk4 sometime in the next year (probably a Scoutmaster, or maybe a Super Scoutmaster if I'm feeling flush), and then grow old with my turntable...