Yes I have purchased albums following reviews in the folk press and from web sites although You Tube hasn't played any part so far.
Judging by the number of CDs that I receive for possible publication in a regional newspaper (and the subsequent e-mails from some of their agents/p.a as to when the review will be published) I would say that plenty of artists still want their stuff reviewed.
Reading the recent reviews of "Songs From The Floodplain" by Jon Boden, had I not received a copy I certainly would have bought it.