Are chisels obsolete?

Try doing precise work with a vibrating implement or a rock-steady tool. You'll quickly acknowledge the difference.

@Dave Bair,

Don't tell my dentist. I don't want him using a chisel. 

I imagine they might be handy removing waste, but I've watched a lot of dovetail videos and never seen anyone use one.

In my experience the mechanized tooling never quite measures up to expectations for precision.  Jig cut joints are another matter (Leigh dovetail jig) will do an admirable job for large repeatable runs and are very precise when set up properly. 
By hand dovetails require practice and more practice. 
Dovetails certainly do not require a $300.00 chisel, other than a woodworker wanting them. 
You can buy used serviceable chisels for less than 35$. 
Craftsman from previous centuries certainly did not pay that much. The process does require”sharp” however, whether a 300$ or 10$ chisel 
You can suit yourself, but for me I’d rather learn the hand skill first. Now at 77, I appreciate the time spent working by hand and eye in the beginning, then graduating to machine work to increase production in the boat yard. But machines only carry you so far in woodworking as opposed to metal machining. Build your skill set is of paramount importance whether your pursuit is professional or casual.

Ed

Y'know Peter, something tells me you're trolling for traffic.

But I'll humor you and take this question seriously.  No, an oscillating multi tool will never replace a chisel.  

Nothing that vibrates will ever be as precise as a well sharpened hand tool.  Those multi tools do excel at cutting drywall however, they are excellent things to have in a remodeling toolbox.  I've used mine just about to death, and when my wife dumped me and moved to Reno, I sent her one as a gift (clearly we still get along) since she's never going to shake the remodeling bug.  In a pinch they will cut through a 2x4, though the blade tends to flex enough that the cut will not be great.  That is assuming it's an aggressive enough blade too, there are good aggressive ones with Japanese handsaw style teeth I buy from either Amazon or Harbor Fill.

I tried a multi tool when we remodeled my daughter's 2nd floor.  Task was to trim the bottom 3/4" of the door jams and trim to help the wood floor install.  After 2 tries with sloppy results I went back to my Dremel flush cut mini circ.  A good chisel wouldn't have been especially useful for the job, but the multi-thang wasn't either.

I don’t think of it as an appeal other than a necessity and that depends on the number to be cut, what they are being used in and available time for the operation. 
Period furniture and personal projects,  would be a place for hand work. But a kitchen full of drawers I’m using a 2 Leigh jigs to get the job done economically (if not outside contracting for the drawer boxes).
As far as any hand held tool, you’re entitled to your opinion, but you’re asking a lot from a tool not designed for the precision this operation requires, both by hand and router assisted jigs.

Mark Mandell wrote:

I tried a multi tool when we remodeled my daughter's 2nd floor.  Task was to trim the bottom 3/4" of the door jams and trim to help the wood floor install.  After 2 tries with sloppy results I went back to my Dremel flush cut mini circ.  A good chisel wouldn't have been especially useful for the job, but the multi-thang wasn't either.

I use a scrap piece of flooring to get the exact fit, plus it supports the oscillating tool blade so the cut is much, much cleaner.

Jason

Both the chisel and the vibrating multi-tool cut and you can likely do the job with either. However, quality of cut and ease of cutting may be the determining factor about which to use and also, you can throw in the user's skill level.
I had to cut some slots in the middle of some existing studs and I can assure you that having the vibrating tool was the answer - yes, I tried drilling and chisels. Budget aside, it is silly to assume having one type of tool to cover the range of things we might want to do is a good thing.

Machine-made DT's for drawer boxes make no difference to me.  DT joints in cabinets (top/side joints) is a  very different matter.  Good hand-cut DT that show speak of craftsmanship of the maker personally connecting with the work rather than a machiner or programmer  who goes home at 5..

Yeah, I get that, hand-cut dovetails in visible cabinet joints really do have a different feel and character to them.