Hi @Anonymous,
Hope you are well!
In my opinion Fabrication Parts is one those things which isn't going to go away, actually more and more efforts are being put into it due to all the benefits of it. Remember when you only worked on AutoCAD, then you had to shift to Revit, you could see the benefits and everything looked awesome but you did not fully realize the extent of the benefits. I almost went through the same emotions with Fabrication Parts, but I (at that point) already read up a lot about industry trends and "BIM movements" and how BIM & LOD 400 (Level of Development) is benefiting all parties involved in the AEC industry.
There are still some limitations when converting parts: Read the full article HERE
"- The selected service must contain all sizes used by the selected design elements.
- Tags on design elements are removed when converted to MEP fabrication parts.
- For best results, make sure that the selected design network is well connected.
- The following parts are not supported for conversion, but remain connected to elements that are converted: Mechanical equipment, duct and pipe accessories, dampers, flex duct and pipe, air terminals, sprinklers, and plumbing fixtures
- The following features and part types are not supported: justification, electrical containment, back-to-back fittings, and analytical connections. Also note that sloped pipe and duct is not fully supported.
- The following may not convert correctly: Taps that are not center justified, eccentric transitions, fittings with open connectors, a run connected to equipment with a transition.
- Air terminals that are connected to the face of a duct will not stay connected.
- Content that is not provided by Autodesk may have a greater rate of failure when using this command."
Best Practices: Fabrication Detailing in Revit
Mapping Revit MEP Families to MEP Fabrication Parts
Basically, Fabrication Parts provides greater certainty for detailers in construction firms so the model will accurately reflect the intended installation. MEP contractors can now use LOD 400 from Autodesk Fabrication products like Autodesk CADmep, ESTmep, and CAMduct to create a more coordinated model.
Re-installation of services on-site due to clashes digs into profits for all parties in the AEC industry. Site waste can be reduced due to the accuracy of design intent, which obviously has a positive impact. Costing of parts and projects become more accurate. The list goes on...
I think this is the "Adjustment Period" for most users, similar to the adjustment from AutoCAD to Revit. In a year or three you might look back at this stage in your career and think, "Man... this has made my life easier"... Or not, haha, so don't quote me on it...
Some of the issues regarding conversion to fabrication parts are "small" and everything is still being developed, so there is hope for some of the points/problems which you raised.
I hope my babbling made some sense! 
Rudi Roux
MSc | Digital Engineering Manager
LinkedIn
Revit Mechanical & Electrical Systems 2018 Certified Professional | Revit MEP & Architecture 2015 Certified Professional
AutoCAD 2015 Certified Professional | Autodesk Building Performance Analysis (BPA) Certificate
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