^^^ said well... my feelings on on it though.. 16mm is expensive to shoot... very very expensive. Digi is nearly as good, and in fact, if you know what your doing, and you have the equipment, you can make digi look nearly identical to 16mm and other film. There's even a new camera, panasonic I think, that shoots in 24 fps with some other shit that makes it appear like film. A lot of the experts have said good things about it.
Also, with 16mm, you gotta do seperate sound. digi is all in one. I mean, 16mm is more 'professional', but digi is closing the gap.