While I was most recently at the Sisters' conference in Ft Worth, they did recommend DRA up to the end of 2nd grade, but not after that, as so much writing is involved that the reading kind of gets lost in the shuffle.
The Burns and Roe, as most other Independent Reading Inventories, seem to work better for older students.
At my school, we use a tool by Rigby called the PM Benchmark Kit, which levels readers through 5th grade. It's fairly quick and accurate, and most teachers feel comfortable giving it. All our classroom teachers have a kit in their rooms. It is not so much of diagnostic tool, though.
For students we feel have true reading difficulties, we do a DRA on them. The rubric with it is gives more in-depth information needed for struggling readers.
So . . . Rigby for all, DRA for strugglers is our "motto". 
