I’m definitely using my smartphone for caching more than I was back then. I use Groundspeak’s Geocaching® app, which isn’t perfect but it’s free (now) and does the job.

The big benefit of caching by phone is convenience, including being able to search for caches on the spot - there’s no hassle in terms of planning where you’re going, downloading the GPX file etc.

However, I do tend to use a GPS when completing a series/longer walk. There are various reasons for this, including the longer battery life. 

We had a poll about this on the GAGB FB group earlier this year and 45% said they (mostly) cache using a smartphone, 35% GPS and 18% both. So, there appears to still be a place for the GPSr within the caching community.