Different strokes for different folks. Personally, I could care less if the rides use new, "cutting edge" technology and are "innovative" as long as they give that warm, fuzzy, happy feeling, feature beloved characters and songs, tell the stories of the Animated Classic Films they represent, and give the goosebumps of a "Happily Ever After" ending.
And for me, the current version of WDW's Snow White delivers ALL of these things. Just like the other so-called "run down", so-called "C-ticket" dark rides in Fantasyland do. In my book, they are "E-tickets" to me that I actually prefer over things like Mansion and Pirates because Snow White, Peter Pan's Flight, Winnie-the-Pooh, as well as things like Disneyland's Pinocchio dark ride (sadly missing from the MK), perfectly capture the essense and heart of these great classic movies that I love so much. They just make me feel happier and more "warm and fuzzy" inside, and more in touch with my Inner Child, than many of the more high-tech so-called "E-tickets" do.
So hopefully, this gives you some insight into why some will be sad to see Snow White go (if it does). For me, it has NOTHING to do with technology and EVERYTHING to do with emotions. And not emotions grounded in nostalgia based on a past association with the ride. Emotions based on the fact that these classic, short but sweet, Fantasyland dark rides still work their magic for me NOW, in the present!
Maybe the 7 dwarfs coaster will tell the story of Snow White as good as the current dark ride does, but somehow I doubt it, especially if the focus is just the dwarfs and not Snow White. I'd love to be proven wrong, though.
But the current ride is so wonderful in it's faithfulness to the story of the original film and all the emotion it captures from it. Much better than the original WDW version of the ride, which, unlike the movie, was completely dominated by the evil, stupid witch.
In the current version, you get the lovely intro of Snow White singing "I'm Wishing" at the well, in her beautiful, operatic style. Then the vile Queen plots against her and she has to flee into the woods. But next comes the soothing, calming, score where the menacing eyes in Snow White's imagination are shown to be the gentle birdies, bunnies, squirrels, etc. This scene is faithful to the movie and the current WDW version of the ride is the only one out of all the Snow White rides worldwide which has this scene and musical score, which is one of my favorites in the ride. Next is another favorite scene, the happy scene with the dwarfs singing "The Silly Song" (aka "The Dwarf's Yodel Song") in their cottage.
After the witch steals the show for a little while but thankfully meets her doom (unlike the original WDW version of the ride where the stupid hag wins), guests are then treated to one of the most beautiful and sublime scenes in any Disney dark ride anywhere. The lovely choral strains of "Someday My Prince Will Come" plays, the Prince awakens Snow White, and she says goodbye to the Dwarfs and her animal friends to live Happily Ever After. If you look at the backgrounds here, they gradually go from dark to light, symbolizing that evil has been defeated and Snow White is riding off to her happiness. The quality of the artwork in this final scene is beautiful and stunning. It's like stepping into the beautiful artwork of the animated movie itself! Again, this "Happily Ever After" scene is found in the current WDW version of the ride, but not at Disneyland, where, due to space limitations, a much smaller "Happy Ending" illustration was tacked on to the end more abrubtly.
So who cares that there are newer attractions that use more "cutting edge technology" than that which is found here? When all of those attractions can give me the goosebumps and warm, fuzzy, Disney Magical Happily Ever After feeling I get on the CURRENT version of the WDW Snow White ride, then we'll talk!
Here is an article about the current version of the WDW Snow White ride which illustrates why I prefer it over all the other "Disney Parks" Snow White rides (although many, including the author, would probably disagree):
http://www.kennetti.fi/swscary_10.html