Let me give you my take on this, as unbiased as possible:
Records do not automatically sound better than CDs. However, there are many, many cases in which the LP sounds better than the same CD.
First let me dispel some myths of vinyl playing:
- "Records wear": Assuming your turntable is a good one (no cheap Crosley record players), and your stylus is not worn, and your stylus pressure is below 3.0 grams (as it would be the case in ANY half-good tonearm and pickup), and your record is clean, and the pickup is correctly aligned, then record wear is a non-issue. Under those conditions records were found to last 1000 plays with no significant sound degradation on an AES (Audio Engineering Society) paper. And this with 1965-67 pickup technology. Modern pickups and styli are still gentler.
Of course, if any of the above conditions is not met, the record will wear!
- "Records sound with pops and crackles": This does not happen with a good turntable and well cared records. Record reproduction is mostly free from such noises. Note that lower quality turntables do emphasize noises caused by dirt, as well.
- "Any turntable gives you high quality sound, better than a CD": This is a favorite one of the hipsters. There are many turntables out there that are bad, poor, or mediocre. You need a good turntable to enjoy the sound. Fortunately due to the big used-TT market, you can get turntables that were pretty expensive when new, for little money.
Now, WHY should one play/buy records instead of CDs (or MP3/etc)?
As a music lover, it is very important to be able to play LPs. The main reasons are:
1. There is a huge amount of music that isn't available on CD nor MP3. For example records from record labels that went bankrupt. Or music that simply is not popular/mainstream. Sometimes you can find MP3 transcriptions of such records on the internet, but often those are done with poor care giving really bad audio, compared to having the record played by you on a good system.
2. There are cases in which the LP record is much, much better mastered than the comparable CD or MP3. Example: Frank Zappa's You are What you is. The CD was done using really exaggerated, wrong compression which truly destroys the sound, and you don't need to have any kind of high-end system or "golden ears" to notice the difference. It is that striking.
Another example? AC-DC's "back in black". The modern (2000s) remaster has heavy, dynamics-destroying compression compared to the original (1981) release. Which you can enjoy buying the LP record.
3. There are cases in which the LP record gives you the truly original release of the album. That is, before the producer (or artist) subsequently decided to alter the mix, do overdubs on it, etc. Example: Frank Zappa "Hot Rats" record; the 1969 original release is radically different from the CD release due to all sorts of edits and remixes done.
4. Music done on the LP era (1948-late 80s) was intended to be released on LP, so there is a convention that albums follow:
- Sides: A versus B. Sometimes the album will have a different concept in side A versus B, for example A dedicated to more danceable music, B dedicated to ballads, etc.
- Hit tracks are expected to be located at the beginning on each side. You see the track that is a beginning of each side and you can bet this was an important track for the artist.
- The last track of the side is usually a softer, mellower track.
These conventions are interesting and are preserved when you buy the LP.
5. Artwork. The difference in picture area between a CD and the LP is striking. Gatefold records (there are many of them) give you about 64x32cm (25x13") picture area, which is a lot. If the gatefold is triple (like in Beastie Boys' "Paul's Boutique"), this is an area of 96x32cm (38x13"), which is huge.
6. Printed lyrics & Bonus material: Since the sleeves are so big, many kinds of different 'extras' can be included with each record, and sometimes they do add a lot of value to the experience. For example:
- "Captain Fantastic" (Elton John) includes a whole comic book inside.
- Stevie Wonder's "Innervisions" (1976) includes a nice booklet with all the printed lyrics in lavish style.
- Many records came with stickers or posters.
- Devo's "Duty now for the future" cover art can be pried apart for framing.
- etc.
Basically, the LP record adds much more to the "experience" of listening to the album. At least for a music lover.