I can't speak to the current state of cd quality vs Vinyl, but I can tell you categorically, every single one of you would be blow away by the difference in quality if you listened side by side to one of the early '80's Mobile Fidelity Limited half speed Mastered vinyl releases against the same recordings cd releases. Dark Side of the Moon and Little Feat's Waiting for Columbus are two good examples. Of course if you don't have a fairly high end cartridge on your turntable and high quality (likely component)audio gear, that difference will be greatly diminished. But with a great HiFi the difference in both overall tonal balance but even more in three dimensionality are striking.
I defer to Adam on today's technology, but if the mastering is now being done with higher digital resolution, and the vinyl is pressed from that same digital master while the cd pressing is done at a lower sampling rate, then the Vinyl could possibly sound considerably better I would think. Of course at least until it gets worn, warped or scratched!
