mp3s may give me higher density storage but I can't play them back as universally (I have to use the mp3 player in my computer or DVD player) and the menuing in my DVD player makes it difficult to branch through hundreds of recordings; your milage may vary.
I know that mp3s can sound good or bad. I also know that DVDs can look better than a laser disc but the source materials or poor or the compression is too weak, the image will be substandard. The potential for the technologies is not always reached.
I plan to work on getting a good sound sample from my vinyl because I will hear it in the repeated playback of those recordings. An extra hour in preparation will pay off in the continued playback over years.
With 45s, there are times they are great to have. There are also times where it is a pain to sit near the stereo so a new side can be placed every 2:30/4:00 minutes.