jQuery 1.7: converting event shortcuts, such as click(), to on()?

I just found out that jQuery 1.7 introduced a new method, on(). With my brief study, I see it as a consolidated way to bind events, as opposed to decide which one of bind(), live(), and delegate() to use. IMO, this is a really nice addition that offers numerous benefits. But then I am not sure if I need to convert event shortcuts, such as click(). According to the official document, the definition of click() is still the shortcut to .bind('click', handler). I thought it would make more sense for the jQuery developers to redefine click() and other event shortcuts in v1.7+ to use on(), no?