Vinyl all the way, but I must admit I am very picky about what NEW records I buy now. If you have a decent turntable and a set of ears, you can tell the difference. Besides, the "mechanical" genius of vinyl is hard to refute. No matter what happens, you can play a vinyl record. Not true with the CD's and digital files.
I still have venues where I can get records in the 50 cents to 5 dollar range. I know a lot of these will dry up soon, so I have been increasing my search range. I have a CD collection that rivals or even equals my records. CD's are nice as well, but cannot match the tactile pleasure a record album can.