Help..Digital vs film for small (35mm) and medium (2 1/4) format?

Can someone give me some a little help/advice? I'm looking to get "back" into photography on a limited professional scale. When I last worked in the field Nikon F and Hasselblad 500C would do most of what needed to be done for print work. Starting from scratch equiptment-wise today I'm faced with the choice of digital or film. My question is, will digital do what I need and is the cost worth the investment, or isn't the state-of-the-art quite there yet?

Digital has pretty much replaced film these days. Film certainly still works,
but I think 90+% of photographers, if given the choice would use digital
capture. Depending on what your work is, you can start with a 4-6MP SLR, or
may need one of the higher end 8-14MP SLR's. Then comes 11-22MP digital backs
and the next step would be scanning backs for large format cameras. In each
case, digital cameras have surpassed film, often by a wide margin.

35mm camera based SLR's in the 4-6 MP range have surpassed the image quality of
35mm film. Digital backs from companies like Phase One, Imacon and Leaf have
gone way beyond anything that can be recorded with film in a Medium format
camera and a scanning back like the Betterlike Super K10 will easily outresolve
even an 8x10 large format camera.

Jon