I have been using digital signal processing for 25 years. For the last two years I have been running my phono stage into an ADC, digitizing the signal into 192/24. RIAA correction is applied digitally without any distortion or phase shift. I can also turn any record into a digital file.
I can AB pure analog to Digital at any time and there is no one individual that has prefered the analog version. My system is also optimized for digital use and does not represent the finest of analog system, but I do use ESLs with subwoofers and fine cartridges like the MSL Sig Platinum, Lyra Atlas SL and Ortofon MC Diamond.
If you know what you are doing and have the right equipment, the benefits of digital signal processing far outweigh any disadvantages. It is also true that two channel processors have not really come into their own until recently. Digital volume has always been a problem because as you drop the volume from 0 dBFS you lose bits. The newest 64 bit floating point processors still lose bits but they start out with so many that resolution never drops below 192/24. Volume is no longer an issue.