A few quick notes:
1. Deciding what channel to use to transmit/deliver is not the same as what one hears. The channel needs to be shown objectively to be transparent. To do that, it needs to have good bit of headroom above what a normal population survey would indicate.
2. We can't control what "music" is. Its spectrum can be whatever it wants to be. Per #1, we need to achieve transparency for all cases if that is our stated objective.
3. Dynamic range of mic, etc. does not set the content dynamic range since I can mix multiple elements, add effects, etc and with it, create louder or fainter notes.
4. There is almost no economic need to shrink the resolution. The people who want high resolution can afford the bandwidth and storage easily. In that sense, I see no need to justify > CD quality as being necessary. If the source is > CD, let's have it
.