I'm directly from the generation that once went "Compact WHAT? How can you do that?"
Yes, I was a vinyl collector (but enough of my weird sexual proclivities!)
I currently have in the region of 400 albums, all vinyl, behind me as I look at my ancient metal record rack, and I have to say it's been years since I took one out. Even after the Great Crash of '07, when my turntable, along with CD and amp fell off the wall when my shelves collapsed (talk about Kofi Annan's peace plan for Syria! At least mine stayed up for about a decade!) I never got another turntable, though recently I invested in a USB one. Haven't even taken it out of the box yet. I got this primarily though in order to review albums that I hadn't got on CD and that weren't available anywhere.
People look back at the heyday of vinyl with rose-coloured glasses of nostalgia, but I can tell you that the only reason we used vinyl then was that there was nothing else. Though it has its charms, vinyl was and is tricky: you have to clean off the record, hold it by the edges, replace it carefully in the sleeve when you're finished. You have to check your stylus before you put it on the record, in case there's any dust or fluff on it which might make the record stick or skip. And speaking of skipping, many turntables are quite sensitive, so if you move around too much when a record is playing you could find it jumping.
Storage is also an issue. My old collection as I say takes up four steel racks, about 5 feet high and the same wide. My CDs, on the other hand, are on a single walnut unit a third that size. The artwork is certainly nice, but tell me this: why did so many people rush to get into CDs when they first came out? Sure, at first they were a novelty, but that novelty would have worn off over the years.
They did it because it was much more convenient. All of the above problems with albums on vinyl were now moot: you could just slide a disc into a tray and hit play and forget about it. Also, you coudl now store all your collection in about a third or less of the space, and access them much easier. You can't exactly take a vinyl album with you to work. Also, remember, vinyl albums also had to be turned over to "side 2" when the first side ended, and if it was a double album then that was four turns (well, three) you'd have to perform. Vinyl, despite how well you took care of it, crackled hissed and popped like a breakfast cereal: dust, fingermarks, fluff, it all got into the grooves and often though you would clean your stylus as best you could there was still a stubborn hair or something left on it that was really hard to get rid of: you couldn't really touch these things with your fingers as they were very delicate, so you blew on them or used special brushes.
I'm not saying vinyl isn't an attractive prospect, but as Urban says, quite rightly, those for whom it was the first medium they used in their youth, before there was a choice, would be very unlikely to go back to it now. I know I wouldn't. Having used Windows 7 would you go back to Windows 95 (Mac users fill in your own analogy)?
That's my take on it anyway, from someone who grew up with vinyl. Yes it's seen as charming now, but when I was using it vinyl was the workhorse, but also the only horse. When CDs came I took a flying leap and landed on the bandwagon, and I don't intend to get off till they realise I haven't got a ticket and kick me off.