Codification: does it make sense?

In EU language, "codification" means a "procedure for repealing the acts to be codified and replacing them with a single act containing no substantive change to those acts" (definition taken from Interinstitutional Agreement of 20 December 1994 on accelerated working method for official codification of legislative acts).
That is what it is: you take Directive A, amended by Directive B and Directive C, you work the amendments into the original text and you publish the resulting text in the Official Journal as a new Directive N, repealing Directives A, B and C.
In its Communication on "Codification of the Acquis communautaire", adopted on 21 November 2001, the Commission wrote:
The codification of the Community’s secondary legislation forming part of what is known as the acquis communautaire complements the Commission's governance strategy and is totally in line with its spirit. It will allow citizens and the business sector, in both the EU and the Candidate Countries seeking membership to benefit from a more accessible and transparent legislative framework. The codification of that acquis will clarify the law by bringing together in a single new legal act all the provisions of the basic act and its subsequent amendments. This process also renders the law more accessible by the deletion of obsolete provisions and the harmonization of the terminology used. It enables the mass of the legislation to be reduced whilst maintaining its substance, yet facilitating its readability.
The thing is you can actually achieve the same result with... consolidation. The Commission writes on its website:
Consolidation of a legislative act, like codification, brings together a basic legislative act and all its amending acts in a single text. Although the resulting consolidated texts are not subject to formal decision-making and therefore do not have legal status, they greatly facilitate access to legislation and reduce the volume of texts.

The only difference? Consolidated texts are not published in the Official Journal, they are not official, they are not authentic and they are always introduced with the following sentence: "This document is meant purely as a documentation tool and the institutions do not assume any liability for its contents."
But while lack of authencity is its only disadvantage, consolidation has a range of advantages: it is easy, quick (OPOCE takes just a couple of weeks from the publication of an amendment to upload in the Eur-Lex website an updated consolidated text of the amended act), is easily accessible and is made throughout the acquis.
Here is the question: does it make sense to codify today in the computerized ages of the Internet? I mean: who actually reads the Official Journal? Raise your hand please. Anyone?

Example of a codified text: http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=OJ:L:2008:249:0009:0011:EN:PDF
Example of a consolidated text: http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=CONSLEG:2000L0053:20080826:EN:PDF