1) When the Floyd was invented, graphtech and locking tuners did not exist, it was *THE ONLY* way to stay in tune. Period.
2) Now that graphtech and locking tuners do exist, a floyd isn't really necessary, and I don't miss it on guitars where I don't have one, at least not for tuning reasons.
3) A Floyd with a big brass block not only does not suck tone, it often exceeds the tone of a vintage bridge. Also, the existance of graphtech and locking tuners make the nut clamp un-necessary unless you are doing stuff that would actually pull your strings out of the slots, and honestly, a Floyd with brass block is one of the best sounding trems available when using a graphtech nut and locking tuners, I greatly prefer it to Wilkinson, etc.
4) The "tone sucking" and other issues commonly attributed to Floyds are not floyd related at all. If you float a trem vs. locking it to the wood, you lose some tone. That is true of any trem. So if you go from a locked down 6 screw (which you locked down because it wouldnt stay in tune anyway) to a floating Floyd, you notice a tonal difference. Duh. I also hear this old chestnut all the time: "well when you break a string the floyd goes out of tune" well no shit, when you break a string on any floating trem it goes out of tune, that has nothing to do with a FLoyd. I use 13-62 or 14-66 strings at standard EADGBE pitch, and even my stop tails go out of tune when I break a string due to the change in neck tension.
I work on guitars as part of my living, I can get damn near any trem system worth a crap to stay in tune exceedingly well with proper setup, graphtech nut, and locking tuners (excluding the Stetsbar, which still has too much internal friction). You *DO NOT* need any "lube", "nut sauce", etc for that to be true, and if you are using that stuff, you aren't doing the wood any favors and you're making a mess to cover up a problem somewhere else, probably a sharp edge on the bridge or saddle or an improperly cut nut.
The brass block upgrade on the floyd has been the best upgrade I've ever done on my guitars. I gotta thank Budd for recommending it to me a few years ago. Now it's the first thing I do when I get a new guitar with a floyd.