I'd say unless you are doing it for artistic style there is practically no reason to use film anymore. I mean you might find some extremely cheap 35mm stuff as everybody is getting rid of theirs but I don't see any reason to invest in a new film system other then you want to have some unique look that is attributed to film. Everything about digital production is more efficient and of better quality.
Actually, a super 16 mm camera has extremely nice sharpness and contrast compared to a HD digital camera. Film, like 16 mm is also cheaper to shoot with, compared to the price of a digital camera, film cameras are extremely cheap.
You said digital is more efficient, I disagree. People rave about how with digital you can shoot a scene and then edit it on the set, but that's just the only advantage digital has to film, fast call back. But if you have to look at the view screen to see if you got the shot, then you didn't get the shot. A experienced director or photographer, knows when he/she "got the shot."
If you're shooting on film or on digital, you still will have to store the information and then edit it later in the editing room, this means all of the advantages of digital like hard drives and memory sticks, disappear, because in the end both mediums will have to be transfered into the computer, digital is just a little bit faster.
But I agree film won't be around for long, cameras like the RED Epic and Arri's Alexa are here to replace film, but for some reason digital seems less artistic, just imagine of the Dark Night was shot on digital, it would look very bad.