disclaimer: I have used both, and am in the pro-plotomatic camp (and yes there definitely are "camps" on this matter!!!). Having said that I have a great deal of respect for some very fine shooting done by people who plot on paper cards.
For what it's worth there is a low cost version of the plotomatic in the works ($50 ballpark perhaps?), it is not yet on the market and I don't know if there is a good estimate of when it might be. In the meantime you have the choice of buying one commercially (relatively expensive) or making your own (not an option for everybody)
A plotomatic records the same data and performs the the same functions as a paper plotting card. The plotomatic presents the data in different manner.
One of the two main "pros" of a plotomatic are that it is (or should be) faster than running a paper plot. When a shot comes up, you need to do one thing on a plotomatic (accurately record the location of the shot on the target). On a paper card there are three things to do (accurately record the location of the shot on the target, compute and plot one point on the "corrected elevation graph", compute and plot one point on the "corrected wind graph").
The other main "pro" is that a plotomatic presents the shot group in a single 2-D visual format. The elevation and windage graph contains exactly the same information, but in the form of two separate 1-D plots. Most patterns of interest are more directly readable from the former; the only thing more directly readable in the latter that I can think of are trends over time.
I know for a fact that good shooters win matches using paper plots, plotomatics, and no plotting. Which is probably worth always keeping in mind.
Specifically with respect to shooting with a scope, there is one other thing to my knowledge that can be done better with a plotomatic than with paper cards, and that is the integration of "aiming off" with the shot plot. There is a way to operate a plotomatic, which I don't see widely discussed, which allows for a really brilliant and quite intuitive connection between aiming-off and recording the shot plot. It can even be used to exactly plot any called bad shots, and while it won't allow you to improve the value of a bad shot it will allow you to extract 100% of the information contained in the fall of that bad shot.
The overall value of plotting in general and specific methods in particular, varies with respect to the conditions of shooting. Some wind conditions and styles of firing will allow very useful improvements to be achieved from plotting shots. In other conditions there can be little improvement to be had from plotting (or sometime even a bit of detriment!)