There will always be advantages with analog because it's a superior form of input with many more control points to fine tune your input into the game. Keyboard can emulate this with fast tapping so that the wheel doesn't turn 100%. But for maintaining lets say a 30% turn... analog is always going to be superior. It also makes driving more effortless, or certainly less frantic.
I also believe that the difference between analog and digital is one of the main reasons one person will see a track as really fun and frantic and the other will see it as rather boring. It takes a different kind of challenge to entertain an analog driver than it does a digital (keyboard) driver. This is probably why Coast has become such a popular environment as more and more people take up analog driving.
That having been said, I'll stick with keyboard, even though I'm slower. I've played PC games with only keyboard for 24 years, there's no turning back now.

It's one of the big reasons I really enjoy TM over games like GRiD.. because TM is actually designed to be enjoyable with keyboard, even if it's not technically as fast if you put the best drivers head to head on both kinds of devices.
I have nothing against analog drivers. But please don't be so narrow minded as to think analog is the only way to have fun. Thanks.