I think I can explain where the thinking splits into two camps here and perhaps why my opinion differs in some ways with David and Tim.
Where I believe Tim and David are correct is that the basics of analog playback are still intact. Yes, a focus on the recording chain, AAA mastering, and minimalist miking techniques create on average the very best way to capture a live event. I have recorded professionally over 200 classical, pop, and jazz events live to two track using ORTF and other minimalist techniques while in Atlanta recording the ASO or the Peachtree String Quartet and also my day spent with Chesky Records. There is no doubt in my mind that these techniques are valuable if you treasure the best possible sound.
But where I believe we possibly diverge is to not credit recent advances in playback technology which are numerous. We have better parts, such as high performing capacitors, and better amplification and speaker systems designed by ever better tools. In digital a good example may be where we realized that human ears with critical listening skills could hear to single digit picosecond timing differences. We have the Ring DAC and improved ladder technology for DACs. That has vastly improved linearity. And for analog, we have a whole set of composite material research which also has helped speaker playback in such things as the phenolic materials of Wilson Audio.
Maybe the common ground here is that while we respect the legacy of these wonderful analog techniques, we keep pushing to take things farther. We include better vibration handling on turntables, we make cartridges that more precisely get information out of the groove, and we create a movement among recording engineers to use minimalist miking and EQ In the studio.
But technology doesn’t stand still. We are the recipients of better sound because of these advancements.