A well set up 'table with less than 2 grams of weight on the needle do not wear down the vinyl. Vinyl gets dirty, a record cleaning machine can add amazing improvements to vinyl playback. I've got records I've owned since I was 14 years old, that have been played literally hundreds of times. And they still play like new after a good washing. Some older abused records may have a pop or two, but that is due to damage. A damaged CD can be completely unusable. So that road goes both ways. A vinyl playback setup is not complete without an RCM. (See my review of the new Pro-Ject VS-C)
At present I've got more invested in my CD player than my analog rig. (Cary 306 vs Scout/Sumiko/Musical Surroundings) and they both sound great! If someone walked in and I wanted to give them the one song demo, I'd play them a CD. It has great dynamics and clean sound, great bass. But if we are going to sit down and drink several beverages and enjoy the music, I'll spin records. And it also depends on the music I'm listening to. Most classic rock and jazz, classical, I'll prefer on vinyl, because of the smooth and non-fatiguing sound. But if I want to hear some Iron Maiden or Judas Priest, I'll prefer the CD. Because it can play louder without feedback, has great dynamic range, crystal clear definition between notes.
Honest, a side by side A/B comparison willl say that the CD sounds better. But over the course of a few hours, the vinyl draws me in. I will play one after the other, and that leads to the next. After about two CD's, I'm done. I am more apt to have an emotional response to vinyl than CD. I like GregKohanmin's idea about resonance, interesting theory.