What are your thoughts on CD's?

It disappointments me that cds are going out. I like to have a physical copy of the music not only as a backup, but also so i can play them in a cd player. Also, cds have a superior audio quality (when ripped with correct settings) to a downloaded file off the net. As for format and quality, all the cds i rip into itunes are 128 aac files (because i dont have a high-capacity ipod), while the files i download from Limewire are 128 to 256 mp3 files.