I would like to answer with an example similar to the one you proposed.
On my company I had to build a simple CRUD section for products, I build all my entities and a separate DAL. Later another developer had to change a related table and he even renamed several fields. The only file I had to change to update my form was the DAL for that table.
What (in my opinion) entities brings to a project is:
Ortogonality: Changes in one layer might not affect other layers (off course if you make a huge change on the database it would ripple through all the layers but most small changes won't).
Testability: You can test your logic with out touching your database. This increases performance on your tests (allowing you to run them more frequently).
Separation of concerns: In a big product you can assign the database to a DBA and he can optimize the hell out of it. Assign the Model to a business expert that has the knowledge necessary to design it. Assign individual forms to developers more experienced on webforms etc..
Finally I would like to add that most ORM mappers support stored procedures since that's what you are using.
Cheers.
