Based on the Cisco textbooks, link-state routing protocols (e.g. OSPF) are preffered over distance-vector protocols (e.g. RIP) and the reasons cited are typically convergence time and loop prevention. Furthermore, RIPv2 configuration has now been replaced with OSPFv2 in the entry-level Cisco textbooks.
This leaves me with the question, what are the valid reasons to use RIP in a real-world production network?
As far as I know, the usefulness of RIP appears limited to academic reasons or to keep the routing configuration process really simple. Other guesses I had might be for interoperability with legacy routers using RIP, and to maintain a consistent IGP within an AS.