I guess that's the main difference. I would never rip the stuff I own physically. Just to keep it special. I know that if I want to listen to a King Crimson album, I have to listen to it on vinyl. Same goes with Meshuggah, if I want to listen to them, it has to be on CD. I've got a different collection on every format. Some bootlegs and unreleased stuff on MP3, some official releases that just don't own on FLAC, some stuff to check out on Spotify etc.
Drawback is that if I go for a walk with my headphones on, I won't listen to stuff that I absolutely love (well... there's the 'search' function in Spotify). Same goes with CD's, I rarely listen to 70's music in my car, just because I'd rather own that on vinyl.