As to the light bulb statement
, i think the better comparisson is between an analog volt meter and a modern dmm. Where the dmm has peak hold, freeze, min-max, logging etc etc. But both can measure voltage.
Yes, but your average analog scope doesn't really "measure" anything, it's pretty much down to the user's interpretation of the screen display. You have a course scale but together with the generally shoddy time-base stability and the limitations of the vertical stage you'll find in most analog scopes you're not getting much of precision out of it. So an analog volt meter, which can come with a precision scale and often reaches similar precision as a decent DVM, isn't a realistic comparison for an analog scope in my opinion.
Well, if you don't know how to interpret the position of a trace against a calibrated graticule...

Your average decent quality analogue scope, Tek etc. had *Specifications* for accuracy and linearity. The only difference between between a 3% accurate analogue scope and a 3% accurate DSO is that the DSO gives reassuringly precise looking digital readouts to lull the unwary into a false sense of security. On a typical 8 bit DSO you're looking at a resolution of 2 1/2 digits and that's before you even take the accuracy spec into account (7 digits at 2 1/2 digits display EDIT: assuming your waveform occupies the full ADC range)

If you want accurate voltage measurements then use a DVM.
The frequency and time measurements on a DSO are pretty good as they're derived from a crystal oscillator (f/w permitting). The only voltage readings really worth considering (above comments still relevant) are the ones attached to the cursors so that you can move them to where *you* think the various levels are, rather than trusting where the f/w thinks they might be.
The only thing a scope (analogue or DSO) is good for is interpretation of waveforms - It you really think all those displays are giving you any sort of "precision" then you are sadly deluded.

Any normal oscilloscope is a waveform interpretation tool. The DSO can obviously capture and freeze waveforms which is it's major advantage. The measurement readouts just come free with the f/w (you really wouldn't want to pay for them!).
P.S. I just pulled out the instructions for my old Tek475A, a few specs:
Vertical Deflection accuracy: Within 3% of indicated deflection
Signal delay between CH1 and CH2: 0.25ns or less
Trigger Jitter: Less than 0.2ns at 250MHz
Calibrated sweep accuracy: +/-1% 5ms/div to 10ns/div, +/-2% 5s/div to 10ms/div (+/-2% when magnified to 1ns/div).
Sweep accuracy degraded to +/-3% over -15 to +55'C temperature range

Not quite the "generally shoddy time-base stability and the limitations of the vertical stage" that you were expecting maybe?
