I'd qualify more as a newbie than as an "audiophile", but I'll take a crack at this thread.
Talking to Todd convinced me that I ought to have a turntable to go with the amps and preamp I am buying (Shrimp, Mahi-Mahi: Sushi, YES). Anyway, the turntable has arrived before the amps, so I'm using it with my headphone rig. So far, I'd have to say that buying it was a great decision.
1) Having been born B.C.(D), I own say 300 records. About half of these were my parents', including some great classical recordings, and some fun popular recordings (e.g. Rat Pack). Why replace them when I own them? Most of them have proven to be in pretty good shape. I did shell out for the VPI record cleaning machine which does a great job.
2) When the records are properly cleaned, there has been a noticeable lack of background noise. The records sound wonderful. Yes, IMHO many sound better than CDs. Note, too, that early CDs of 60s and 70s classics suck. The records don't.
3) The records sound a hell of a lot better now, on new equipment, than they sounded then.
By the way, Todd was (and is) great to deal with. I got better attention than I've ever gotten at a bricks and mortar dealer. He picked equipment that I, as a non do it yourselfer could set up. He even talked my through cartridge install and adjustment. I love my Scout, and I love my lyra cartridge. Oh yeah, the Ray Samuels phono stage is great, too.
I still have all my CDs, on hard drive, airport expressed to a DAC. I'm not going to give that up, but the vinyl is an incredible treat. The new vinyl, while expensive, is even more wonderful.
Depending on where you live, there may even be a store that sells used records. You can pick up a lot of great music at $5-8.
Well, I hadn't intended to go on quite so long, but I guess I am that enthusiastic. Enough said. This might already qualify for the butt kiss thread.