Don't I just know it !!!!!! I'm hoping to cross the Celtic Sea next month so I thought now's the time to buy one. On my last boat I actually had a Tinker Tramp with the liferaft package which after a couple of seasons I gave up on as it was just too fiddly to set up and like most of the people who've replied on this thread , relied on the dinghy in case of dire emergency. I still had the advantage of inflating it with the emergency air bottles.
One more potato to throw into the pot is that in dire circumstances, like the '79 Fastnet, people in rafts (or trying to get into them) died, whereas some of the yachts they abandoned stayed afloat. Maybe having a raft encourages one to fire the ejector seat before it is absolutely the final option?