I still prefer the disc version for a few reasons:
1. Given my connection speeds (in order to get unlimited data at a reasonable price), it still takes several hours to download a game. Takes me less time to just go to the mall and back.
2. Retail copies tend to decrease in price faster than digital ones do. Stores have limited space. They want to quickly cycle out old stock to make room for new releases. So prices fall faster and sales are more frequent. In the digital environment, Microsoft, Sony, and Nintendo have a monopoly over sales. They also don't have the same space limitations. Meaning games still sell for full MSRP long after release.
3. Having a physical copy of the game, and keeping it in good condition, means it will be playable for decades to come provided you can still find a working console.
4. In the case of my Vita, storage is too expensive. So it works out to be a lot cheaper to buy the cartridges.
5. Retail copies can be played on any console regardless of whether it's your or not (for now anyway). So you can borrow and lend games to friends
6. Digital games depreciate in value quicker than physical ones. Which seems to contradict my second point. However, physical copies can always be sold and traded. Which means they always have some monetary value attached to them. Digital copies become worthless once you stop getting enjoyment from them. They cannot be sold or traded in most cases due to DRM.
Now, there can become a point where digital does outweigh physical. Take PC for example. Some disc based games (more so a couple years ago than today) are so saddled with annoying DRM, it made sense just to deal with Steam.
Also, a lot of digital game retailers don't charge sales tax. Though that seems to be changing unfortunately.