although one can achieve many effects in image editing programs such as Photoshop that simulate the effect of many of these filters, it is usually better to get the image right in the camera without need for image manipulation in the computer which tends to degrade the image in other ways.
some effects cannot be easily reproduced in Photoshop such as polarising or infra-red
even more important is the problem that digital cameras have limited dynamic range and it is very easy to burn out highlights and irreversibly lose detail in them. Thus graduated optical filters become even more important in digital photography if one wishes to retain cloud details in a scene, or perhaps the brightly lit end of a room or corridor. There is still the problem though of objects that pass from dark to light areas potentially revealing the position of the graduated filter cutoff line.
One thing that no amount of Photoshop can fix is shooting into the sun, if you have the sun on the horizon and shoot straight into it you will end up with flare and a general washout of colour, use a ND Grad to block that light and the tonal range is captured again.
adequate lens hoods are imperative to reduce lens flare, particularly when shooting into the light source.
prices are approximate from
Vanbar 2005 to give you an idea of comparisons.
what would I use for digital photography?
UV filter to protect lens - consider removing it to take critical photos esp. those into a light source when flare needs to be controlled. Not much point spending $A70 on a filter to protect a $A200 lens though, and no point taking photos through a $A20 filter when using a $A1000 lens. So if you are going to remove the filter to take your photos, you can buy a cheap one, otherwise buy a multicoated expensive one.
circular polariser filter to darken blue skies, give more saturated foliage colours and reduce reflections on water or glass
ND400 circular ND filter to allow longer exposures such as needed to produce flowing water motion on sunny days
perhaps a ND8 filter to allow fill in flash on sunny days and still get wide apertures for shallow
depth of field (DOF)
ND graduated filters of the square design (eg. Cokin, Lee) to prevent the sky getting blown out. Don't bother with circular ones as you can't adjust them up and down for horizons, etc.
maybe an R72 infrared filter if you want to try infrared digital photography.