HDMI = DVI + Audio, so as I see it the only advantage to HDMI is having the video and audio in one cable!
No. In fact it is the exact same video content and capability. The advantage is a smaller connector. DVI also does not support all HD copy protection schemes. For example, some Blu-ray content requires HDMI. But again, the quality is the same as the both support a maximum resolution of 1920 x 1200. As for HDMI carrying audio too, it is not always an advantage. In fact, it can be a real PITA if you prefer your audio to be handled by a sound card or your motherboard audio and normal computer speakers. It should be noted the ONLY reason HDMI has infiltrated the computer world is the because the same folks who make TVs make computer monitors. And they didn't want to deal with all the logistics of dealing with both DVI and HDMI. It was only long after HDMI came to the computer industry that monitors with integrated speakers started to come to the market. Yet by far, most users don't like the sound quality from those speakers and instead, use normal computer speakers. HDMI is great in home theater setups. No so well with computers.
But that's the problem, they are not always separated on many motherboards and graphics cards with HDMI. You have to go into various setups and separate the audio unless you want to use speakers integrated with the monitor. The analog outputs are often disabled if you install a card with HDMI audio - even if the HDMI monitor does not have integrated speakers. And if you have a graphics card with HDMI audio and you want to install a separate sound card, you have change several settings in Windows and the graphics card to get audio routed through the sound card. For normal audio setups, if you installed a sound card, all sounds would automatically be routed through the sound card. It should be simple. But because HDMI also has a control channel and because HDMI was designed to handle audio from the start, it often likes to exert itself and take control, even if you don't want audio over HDMI.
And therein is a RUB at least for one of my so-called Smart TV's. HDMI works great on one of my JVC units while on the other one no matter what i do, in order to get that rich sound content from a (now outdated Amplifier system) I had to get a splitter and run the Audio OUT from the HEADPHONE JACK on the TV. Yeah I traced it down and discovered it's a JVC issue with my particular 55inch JVC brand. The 65 inch JVC is as simple as Plug n Play.