Here's my 2 pesos FWIW and a bit after the crowd left. I get the science argument and even have a technical background (for whatever that's worth) - dynamic range, noise floor of digital versus vinyl or tape: digital wins. However, out of the best of the best systems I've heard analog always sonically wins. So, how important is the extra dynamic range and noise floor? I'd say to our human ears not much. So WRT format specs, it's mostly meaningless IMO.
With regard to human preference, there are clearly conditions / artifacts in analog formats that alter the recording that pleases the ear. This goes beyond format and recordings and into hardware - just listen to tubes. One could argue it's scientific - psychoacoustics, one could argue it's human bias / preference - I think it's both. The importance of this in our hobby should not be overlooked IMO. It's not a good or bad thing, it's simply reality and personal preference.
WRT the recording format and process - While digital wins in terms of specs, what's skewed in translation from the analog input to digital (ADC), and then again digital to analog (DAC)? Versus for example analog tape - what's skewed in translation from the analog input to a magnetic format, and then again magnetic tape to analog out? While digital has come a looong way in a short time I'd wager the complexity / transference of ADC to DAC outweighs any noise and range advantage. And IMO may be why on a system like Mike's with high resolution and very capable dynamic range aligns to my hypothesis.
One last thought - In source component comparisons it should always be noted what's being compared. It's all too common to read "analog trounces digital" while the owner's TT setup is 5 figures while his DAC is a Schiit BiFrost (no offense to Schiit owners, great budget products). The opposite is also often true.
And BTW - I'm only digital but I recognize that in cost no object systems the capabilities of analog, tape or vinyl still reign king over digital IME. That may change with the speed that digital is improving, who knows. I'm just happy we have so many incredibly high quality component source choices and an explosion of new / renewed music. YMMV.