Is a diabetic insulin pump with the new attachable 24-7 glucose monitor more convenient than traditional insulin pumps?

Yes, and better: The continuous glucose monitoring systems represent a tremendous advance in the ability for Insulin controlled diabetics. Although they still need to check a few times a day to calibrate the meter, the continuous monitoring allows the system to anticipate trends, such as falling glucose levels and adjust the pump rate accordingly. With attention to diet and good training, the system is much safer.

Possibly more useful: Using a cgm with your pump would not be more convenient as you still have to calibrate it a few times/day with a blood sugar. But, it is very useful to follow blood sugar trends and help fine tune basal rates and bolus formulae for the pump.