Lower noise doesn't make it musical or accurate to the recording or listenable. I don't know what your friends system's sound like but my analog sources are darn quiet. And to me, one of the telltale signs of "noise" is a loss of transparency, in particular the ability to see in the mind's eye instruments located in the back, in the corner of the stage or even offstage.
Not there for digital. Always feels like a blanket is there over those instruments. There's always a feeling of something between you and the musician.
In addition, digital just can not get spaciality right. It's not even there totally on the hard disc and the mastering and pressing of a CD destroys what little there is. And if you think it is, on your recordings, think again. It was likely added post-production. Hopefully the new high rez d/l will help in that matter but it's still not right (and that's what I've heard in the studio). Right after they used auto tune.
Sorry no, the first gen of digital proved that. It was dead quiet and was about as amusical as one could get. Digital could be as quiet as a church mouse and it still loses lots of harmonic, spatial, etc. information. Besides which the ear can listen though much of the noise while it can't with digital.
I guess we'll just have to disagree, Myles. We couldn't hear things any more differently.
Tim