We only do a PRINT version & it is the most common item that people will ring the Development Office to obtain a NEW copy. Sadly fires/house loss make it a desirable item.
We also do a COVER REVEAL video that generates excitement as the cover is always student designed.
I agree with many comments here that people will not read the digital version.
People love sitting at their reunion & flicking through this document.
I think the age of your school also determines traditional v digital.
It is an expensive item but builds tradition.