Bill Woslow puts this well in the introduction section of his AES paper,
Detecting Changes in Audio Signals by Digital Differencing.
http://www.libinst.com/AES Audio Differencing Paper.pdf
"1.1. The Audibility of Signal Differences
Throughout the history of audio engineering and (particularly) of audio component marketing, a number of discoveries have been announced for new types of distortions. Many factors have been said to cause or correct problems and to have noticeable audible effects in sound reproduction systems. New product concepts are commonly promoted as cures for such ills. Some examples include use of special cable geometries, amplifiers with particularly high slew rates, chemical
treatments for CD disks, or devices intended to control electromagnetic interference. In fact, according to some audiophiles, nearly anything in or even near a high resolution audio system can affect its sound.
But while such claims are common, objective evidence seldom can be found showing that these claimed distortions or factors can actually be differentiated by only hearing sound. There is often significant skepticism about whether some of these things really can affect an audio signal at all, much less to any audible extent. Many testimonial descriptions exist, but there is rather little that can be repeatably demonstrated. Even should a researcher choose to accept that such a claimed effect might be real, he would have no certain way during a product development to know whether or not he is improving related performance.
Objective testing methods for audible effects, such as double-blind A/B or ABX, do exist and are capable of verifying audibility of some changes in an audio signal or system [1].
But these methods can be time consuming and expensive to implement rigorously, and while they can confirm an effect to be audible, they can never conclusively prove any one factor to not be audible. A negative (inaudible) result can at best conclude that audibility wasn't demonstrated under the particular given conditions of the test. And should results strongly imply that an effect can not tected by ear, that conclusion is likely to be routinely dismissed by much of the high-end audiophile community. The other components in the system are accused of lacking adequate resolution to preserve subtle changes, or listening conditions during the test may be thought overly stressful or otherwise atypical.
Switch boxes used in the tests are suspected of degrading audio performance and masking the differences being listened for. For these audiophiles, believable conclusions are achieved only through “sighted” listening tests in which the listener already knows what he is listening to at each moment, describes the sound “subjectively” and (at least consciously) trusts only his ears. Such results, though,are of little or no use in engineering developments or scientific research."
Emphasis mine
.