Vinyl sounds "better" because we're conditioned to respond positively to the nonlinearities inherent in the system. These cumulative nonlinearities, such as even order harmonic distortion, tons of phase shift, and the mechanical nonlinearities of the physical systems involved combine to create that "warm" "pleasing" sound quality.

In terms of "accuracy" as defined by end-to-end linearity, CDs are probably better.

I think vinyl "can" sound great, but there are so many variables to having it sound as good or better than CD, that most of the time I think it's a washout.