I can not agree with your comment that a system's ability to reproduce a recording is the only reference that counts. The fact is that a recording is nothing but a bunch of numbers in a file or a wiggle on a piece of plastic or some magnetic spots on a tape. This physical artifact has no sound of its own until it is played back by some physical device. There are no, make that zero, standards for how these physical patterns are to be translated into sound. The recording has no sound of its own. If you have a playback chain that is identical to that used in the mastering studio then you will hear the recording the way the engineers heard it, in which case if they did a good job of selecting and placing the microphones, etc., you will get what they intended. But there is no standard for mastering studio playback either.
Perhaps I should have said it's the only one we have. There are few standards for the recording/mastering/playback chain, and that is regrettable, resulting in quite a few bad recordings. But the recording is all we have; it is all that the system sees. The system isn't aware of your concert listening experience, your taste in music, your preferences in tonality. It is blissfully unaware of your room. All it knows is the in-coming signal, and it will reproduce it within its limitations. It can't do anything else...unless you add some sort of eq or processing.
So, to take a specific example, if you take the Mercury Living Presence CDs (or high res equivalents) and play them back on a system that is truly flat, the result will be like fingernails on a blackboard. Truly horrible. These recording were made to be played back on speakers that have a slight roll-off on high frequency response to offset the rising response of the microphones used and the microphone placement, etc... They sound excellent on a system that has a substantial high frequency rolloff, comparing 1 kHz with 10 kHz for example. I have oversimplified this discussion. For example, the high frequency roll-off involves the polar response of the microphones, the polar response of the speakers and the acoustic properties of the recording venue and the playback room. It becomes even more of a mess in the bass. This is why we are dealing with an art and not a science and why there is no definition of how a recording is supposed to sound.
I don't know these recordings and can't speak to them, but if they are all you listen to, by all means, buy speakers that roll off as these recordings rise, and achieve balance. If they are
not all you listen to, I trust you understand that other recordings will sound dull and "rolled off" on this system. I'd suggest that ugly stepchild of audiophila; equalization. Digital would be even better, as you could program a pre-set for these CDs and simply hit the bipass button when playing something that is better recorded. Do you play vinyl? How does that sound on a system optimized for these CDs?
If you want to get seriously into these questions, the only way to understand the issues is by making and playing back your own live recordings, including playing them back immediately after hearing the live musicians. It is not possible to get a clue as to what is going on by any other method, like it or not. If you are not making recordings as well as playing them back you are nothing more than a second class audio citizen. Like it or lump it.
I'm a musician, and I've done exactly what you're suggesting quite a few times. Record with a single pair of stereo mics, then play it back through a quality monitoring system in the same room from the same position and you
do get a much better understanding of how accurate your recordings are. That doesn't make me a first class audio citizen, but it does make me very skeptical of those who talk about realism without accuracy. Move that monitoring system to a different room, and the recording will sound different. Master that recording with a "substantial high frequency roll-off" and it will, of course, sound substantially different, even in the same room and position.
Recordings are, more often than not, engineered for the market they'll be sold to. So many popular recordings are compressed because most listeners these days listen through headphones, iPod docks and car stereos. The closest thing they get to the kind of listening experience audiophiles have is when they are rolling down the road with a noise floor coming up through the floorboard that would make the worst home system sound quiet. Perhaps Mercury understands its audience and is aiming their product at system with significant high frequency roll-off, or listeners with significant high-frequency hearing loss.
Tim