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M$3 Answers
From what I've read many of the better wineries are switching to Stelvin Closures because it better protects their investment and preserves the product.
Here's an interesting article from a winery which goes more in depth in the first link.
My last link leads to an interesting "cork" alternative. I haven't come across one like this yet but I remember that either Corbett Canyon or Sutter Home at one time was using a flexible cork made out of some kind of plastic. I still have a few in my cork drawer. They're reusable and washable which is nice so I use them to replace the regular corks in new bottles of wine I open.
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M$Which is too bad, because they're actually a good way to save wine. They can be re-closed more effectively than corks. They don't require a special tool to remove. They don't rot or develop mold. They don't let air in or flavor (or bubbles) out. They can be stored vertically. They're cheap to make.
But they're not traditional, and winemakers (and drinkers) favor tradition. Top-notch wines will have corks (real cork, not plastic) for some time to come, despite the disadvantages. You will, however, see screw caps on more and more good wine as producers give way to the advantages.
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M$Natural cork
Allows oxygen into the bottle on an inconsistent basis.
Can get contaminated causing "cork taint" which gives the wine a moldy taste.
Stelvin Closure:
Oxygen cannot enter bottle.
Better for holding fruit character.
Maintains freshness better than cork or synthetic corks.
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M$