Maybe I'm just nostalgic for the 80s and 90s, back when vector graphics were a possibility. Now that we have much more powerful CPUs and GPUs, it seems that vector graphics have become way too hard to handle...
For the core UI of an OS, yes they're still too costly.
No OSs in the 80s or 90s used Vectors graphics for UIs. None. Some games in the 70s/80s used vectors, like Asteroids (1979). Since then for anything with multiple colors it's all been bitmaps.
And games have been using vector graphics since the 80s and 90s, at least, games made with a little known technology called Flash.
Flash is about the only games tech that's used vector graphics, and it's slow as poop. I'd not want to have any OS UI rendered completely via Flash. With bitmaps you can very quickly blit a whole block of pixels to the screen in an instant. With vector graphics you need to loop though all the points in the graphic, calculate the boundaries of shapes, fill the shapes, AA the edges/lines ect and adding bezier curves (solving parametric equations in real time is the opposite of fast) gradients and multiple layers of alpha transparencies suddenly it gets really damn expensive compared to just blitting a block of pixels. There's no way to speed up vectors (yet) using the GPU either, it all has to be rendered on the CPU - GPGPU computing still hasn't reached a point that it could be used for something like the core UI of an OS.
Now, there's
Scaleform which is a games UI tech built on flash, but it's still not really vector based. I used scaleform on a handful of crossplatform PC/360/PS3 games when I use to work for Sega and it converts vector graphics into 3D vectors/bitmaps to be rendered by a GPU. It's still mostly bitmaps though - scaleform converts 95% of the flash 2D vector content into bitmaps being rendered into full screen quads by a GPU and it's not really all that resolution dependant as it's mostly bitmaps in the end it just relies on the GPUs linear bitmap filtering to scale the content.
Or the above Sierra game, Conquest of Camelot

In fact, isn't that screenshot from a game that uses vector graphics ? (Plants vs Zombies ?).
Neither Conquest of Camelot nor Plants vs Zomvies use real time vector graphics! They might have used Vector illustration programs to draw the graphics, but those graphics were then converted into bitmap assets to be used in the game. I've used PopCap's game engine before (you can downlaod it and use it yourself here:
http://sourceforge.net/projects/popcapframework/). Mostly just to tinker and see how it works, but I'd bet my left nut PvZ is all bitmaps rendered to quads using a GPU.
Thinking is nice, but but without any research or critical application you're just living in the clouds.
Now, I'm not saying a vector based UI would be a bad thing full stop. If done right it would be really awesome. However, it would be a pretty big undertaking from a software development perspective and I can't see it happening for the core UI of any OS until GPGPU can be leveraged to render it. In the meantime hybrid 2D bitmaps with GPU acceleration mixed in here and there is probably the smartest choice.