I understand what you mean because picking up a cordless tool or even plugging in an electric cord can be so much easier than oiling the air tool and pulling out the air hose. On the flip side though, no electrical tool or battery powered tool can endure the long term abuse that air tools can take. 5-10 minutes of solid use with an electric tool and that thing is smokin' hot and you're forced to give it a break and if it's battery powered, the battery is most likely dead and you have to charge it back up. 30-45 minutes with an air tool and you're still going strong. That's the biggest advantage. Air tools allow you to work at your pace. If you have the time and stamina to sand an entire car or boat, air tools will let you do that. Electric tools will not. Getting quality electrical tools quickly adds up in price too. A nice air drill is maybe $50. A nice cordless drill can run $150+. Let's not forget that you're not going to find a decent electric paint gun for any reasonable price if you want to paint your toys.
I totally agree with you that cordless tools can't be used for extended periods of time, but it so nice to just grab the impact and use it quickly without having to pull out the hose or if what you're working on is too far away, you have to move your compressor.
I used a 12v Hitachi impact this last weekend to put up peg board in my whole garage, 12 8'x4' total panels, used 2 battery charges (2 batteries rotating while charging, 45 minute charge time, Lithium-Ion batteries). I drove probably 200 screws in all.
I also frequently borrow my dad's 18v Hitachi combo kit (drill, saws-all, flash/spot light, circular saw). That kit is also awesome. So awesome to use the circular saw where ever you need it without having to stretch out the extension cord.