This interesting report from Mtv goes into some detail about the decline of the sale of vinyl records in the 1980s and the rise of the compact disc. Almost everyone they interview during this piece who is in favor of vinyl as an option argues for it based on liner notes and warmer sound, but it all seems to come down to nostalgia. Tom Petty seems to understand that completely in his little segment, which confirms his status of not only a talented person, but a wise one as well.
Despite the passionate feelings about vinyl, the buyer from Tower Records confirms the facts. Records are on their way out. So they either picked people to interview who were the small population still buying vinyl or these people were not telling the truth and just wanted to appear a certain way in front of the camera.