In the overall scheme of things, neither LORAN nor GPS was specifically designed for aviation use, with both originally funded for, and for the most part still controlled by the military. There is no guarantee at any given time that either system will be available during times of national emergency or otherwise, but at least (to my knowledge) the LORAN system has not been turned off (I don't think there is "one big switch"), or it's accuracy diminished, as GPS has been on several occasions since 9/11! For that reason, I personally think LORAN is still attractive as the more reliable system, while GPS remains attractive as the (usually) more accurate system. Considering the price of a used LORAN, if you've got the panel space, go for it!
With the limited panel space of our birds, one might seriously consider a second nav/com and VOR, in lieu of a LORAN or panel mount GPS, considering this is a proven system designed decades ago for aviation use only, and now controlled by the FAA. VOR's don't have the capability (to my knowledge) of being turned off simultaneously on a national level (again, no "big switch"), and the FAA would certainly be expected to issue termination of service warnings as far in advance as possible. Sure, VOR requires the "moving map" to be in your lap, but it doesn't require a periodic data base update, keeps you current on basics (as we ALL should be), and is far less expensive to maintain, considering the number of spares on the used market! It's main attraction to me, as a second system, is backup for what I still consider a primary system that you must have, without the expense of a combined nav/com/GPS/Direct TV system as backup! (I can't afford in flight movies, yet.)
I'm not advocating junking your G430's, etc. I'm just saying that when looking at alternatives, look at all of them before ruling anything out.
