How many guys even know what Ohms per Volt is?
If you have your hands on a meter, you'd better know what that is. Otherwise, you're Homer Simpson just looking at the pretty numbers.
And yes, a digital volt meter is handy. No doubt, when dealing with quick and dirty measurements, or doing precise micro-volt tests, they are a life saver. But a Simpson 260 can react to an analog signal where a DVM cannot. There are certain applications that nothing else will do for the given task. Like I said before, rapidly rotating machinery with reluctance head pickup for example- a DVM is a piece of garbage.
I happen to use both a DVM and the old school meters- neither are perfect, together, they get the job done. Many pieces of business equipment such as bank sorting machines use a ton of analog. DVM's can't hold a candle to an old Simpson or a Triplett.
Working on an old linear power supply with a noisy cap? Whip out the Simpson.
Working on the main board of a CPU? The DVM wins hands down.