Oh I really am not trying to hijack the thread, but this is so fascinating. This last section of the study displays incredible insight of the two authors of the study:
4 A NOTE ON HIGH-RESOLUTION
RECORDINGS
Though our tests failed to substantiate the claimed advantages of high-resolution encoding for two-channel audio, one trend became obvious very quickly and held up throughout our testing: virtually all of the SACD and DVD-A recordings sounded better than most CDs— sometimes much better. Had we not “degraded” the sound to CD quality and blind-tested for audible differences, we would have been tempted to ascribe this sonic superiority to the recording processes used to make them.
Plausible reasons for the remarkable sound quality of these recordings emerged in discussions with some of the engineers currently working on such projects. This portion of the business is a niche market in which the end users are preselected, both for their aural acuity and for their willingness to buy expensive equipment, set it up correctly, and listen carefully in a low-noise environment.
Partly because these recordings have not captured a large portion of the consumer market for music, engineers and producers are being given the freedom to produce recordings that sound as good as they can make them, without having to compress or equalize the signal to suit lesser systems and casual listening conditions. These recordings seem to have been made with great care and manifest affection, by engineers trying to please themselves and their peers. They sound like it, label after label. High-resolution audio discs do not have the overwhelming majority of the program material crammed into the top 20 (or even 10) dB of the available dynamic range, as so many CDs today do.
Our test results indicate that all of these recordings could be released on conventional CDs with no audible difference. They would not, however, find such a reliable conduit to the homes of those with the systems and listening habits to appreciate them. The secret, for two-channel recordings at least, seems to lie not in the high-bit recording but in the high-bit market