For rendering animation and stills, cycles Engine is really the way to go.
I may be wrong, but last time I checked, few monthes ago, the Internal renderer and its standard materials were still useful for some people who will export OBJ or FBX formats. The standard materials are more compatibles with those old standard file formats and material structures, because they have a defined structure (1 bitmap or color in the diffuse channel, 1 bitmap or color in the bump, 1 bitmap or color in the normal, etc...)
Cycles materials are more complexes (mixing textures, applying transforms in the material itself etc...) To this day, as far as export goes, they are not easy to use with .obj and .mtl and other super standard formats made for exchanging 3D data. (unless you bake your channels one by one by hand, wich is not always an option).