PLC Kid, I think your instincts are correct regarding conversion of DC systems to AC. After over 15 years in the field doing these conversions in a huge variety of applications, I can confortably say that the application where DC is the best choice based solely on performance is getting exceedingly rare. The choice to stay with DC is almost always a commercial (that would be cost) one. And, I mean initial cost, at that. Anyone doing life-cycle costing would choose AC with precious few exceptions.
Just a couple of key points:
All things being equal, AC is far less motor maintenance than DC. AC will, on average, get you 6% better energy efficiency. If your application would benefit from an enclosed vs. open motor, it is far easier and cheaper to build an enclosed AC motor. If you have to do high torque work at or near zero speed, AC is preferred today because of commutator damage under those conditions in DC, and finally, in hazard-rated atmospheres (explosion-proofing) DC is simply not a candidate due to brush arcing.
Now I'm sure someone out there will have some reason why DC is just right for their application and they might be right but, in general, the above reasons make DC a second choice technology and, in many cases, a distant second choice.
For me personally, while I work on DC regularly, I've never liked the inherent instability of DC motors. By that, I mean the fact that they will run away to overspeed on field failure or that they are not near-synchronous devices like induction motors. I've always disliked the need for a tach or encoder to get any kind of speed accuracy in DC, and, with compound-wound DC machines, the problems associated with directionality due to the polarity of the series field connections.
Maybe I'm just not old enough (at 63yo that's hard to believe!) to appreciate DC but, then, I really am not fond of analog drives whether AC or DC either!