There will always be those that prefer the convenience of digital over vinyl. However, I think one of the things that happens with digital (and I do have plenty of both), is that this convienience means you tend not to listen to a whole album as you would with vinyl, and I for one am grateful for that. You see with digital, CD, Mp3 and so on - we tend to dip into albums and not give the slow burners a chance. However, I've always found that the songs I like the most are the ones I had to learn to like and wouldn't have ever heard or been forced somewhat to hear them, if it wasn't for listening to them on vinyl. Therefore, I believe you get a better appreciate for the music you're listening too and tend not to simply dip into albums for instant gratification of a few popular choices within.
As to sound quality. Much like many on here. It depends on the gear and the record. I've purchased second hand and found some crackers, but equally founds some dogs. Also, it depends on the pressing etc. Spend equally on your deck, cartridge and tone arm cable, don't skimp on a phono stage either. Any part in the chain will ruin the good that the higher quality parts will contribute. Shop around for vinyl. I tend to get records from artists that I enjoyed from my youth and teens - prog rock fyi. There's plenty of really good stuff out there.
Go to a dealer for gods sake that deals in vinyl. Listen to 3 setups, 1 at your budget, 1 below and 1 just above. Look at the reviews on WhatHifi. Consider what you already have and what you maybe able to afford soon too. Consider also the type of music you're going to listen to.
Finally, to those that keep saying that vinyl is warm.... sigh. Yes, perhaps, maybe. It's also some of the punchiest, lively, dynamic, clear and thundering good music you will come across - but only if you get all the parts working together. Can be a pain in the *** to begin with, but once setup, you can simply enjoy and you appreciate the music, the vinyl, the art, the sound and your system more for doing it.
Stu