PSK31 is more effective at getting through noise than CW ever was (and where PSK31 won't get through, there's PSK10 and even PSK5, but those are rarely used since they're not needed). Yes, it needs a computer but every radio these days has a computer built in. What seems to not exist yet is a radio whose built-in computer supports PSK31 without needing an external computer (i.e. a complete PSK31 station in one box, about the size of an FT817, with a keyboard and display). It's really time for someone to make something like that. Better still would be a spread spectrum mode which needs no tuning.

There was a very good article by Phil Karn KA9Q a while back about how Morse is nowhere near as channel-efficient as people seem to think it is. I'm not able to find it right now (I just Googled for a few minutes) but maybe it will turn up.