I agree totally; however, in fact, I believe it would be better if they still used both, and both were a requirement. Using your example there, of a crew member falling overboard, the GPS can record that position, which then in turn is plotted on the electronic chart. As well as that, the electronic can give a continuous record of where the ship has been (in sync with the GPS). As oppose to having to plot a position every 30 minutes on a paper chart.
But, on the other hand, I agree with you when you say paper charts are better. I certainly don't fancy doing all my work on a screen. However, I'm sure mariners will still keep the paper charts aboard - It just won't be a legal requirement. (even though I still think it should be).
Jack.