In my opinion, we keep the jump coys around for an excellent set of reasons.
1) static line parachuting is an equaliser. The standards for entry and continued performance do not decline for anyone, so you must do the same job, even if you are old, female, a visible minority etc.
2) In order to have the motivation to jump 120lbs of kit and know that if you screw up the exit or landing you could be horribly injured - and you still do it, out of personal pride, arrogance, esprit de corps, whatever, then you are demonstrating a degree of dedication that someone safely ensconced in a LAV does not have to - not to say that they could'nt, but no - one is asking them to.
3) PT and trg are usually the hardest and best in the jump coys, not too many men in maternity wear waddling around.
4) Jumpers are all volunteers. You can ask for your green beret back at any time, there's lots of guys that want a maroon one.
5) In my experience, by all quantifiable standards, the jump companies have higher scores on the Cooper's test, and a much larger number of them shoot marksman.
6) The jump coys give troops something to aspire to - a bit more pay, a cool course, a distinctive uniform, and the kickass rush of jumping!!
7) If mountain ops is to become the replacement for the jump course, it will have to be totally reworked, because right now it is hardly more than a civilian course with guns and rations. I've both worked on it and taken it.
This will also be the most controversial part of my post, but in my experience, the people who most often vehemently oppose airborne units, and continually justify their disbandment, are those who never were able to achive the standard required for entry, or continued employment in one - sour grapes if you will.