Locations are and always will be a flawed system as long as they count bytes instead of visible text.
None of my reasons for not liking locations has to do with a nostalgia for the smell or feel of paper books or a refusal to adapt to a new paradigm.
I don't like them because they are bad UI, misleading (precision != accuracy), and they don't and won't even match across files of the same exact title within the same format.
There are a million things I love about my Kindle, but whether a weakness affects me personally or not, I'd like to see the technology be the best it can be.
We need a standard that works at least somewhat across platforms, and any method that measures bytes doesn't even make it to the table.