Here's some more food for thought... When you see a live performance, how is that experience different from your headspace when you sit in front of your high end system?
It's radically different. Even if you set aside out all the non-sound stimuli which you are not receiving at home the sound itself is totally different. The sound is coming from multiple sources and bouncing all over the place. I think one way to fake it might be discreet tracks of instruments playing through speakers arranged in quasi-performer-like positions, and then you also will need colored lighting and smoke (be it cigarette smoke or dry ice) and additonal canned recording of drunks who won't stop hooting and hollaring even when the band they claim to love so much is playing, and most importantly, extreme volume. Imagine if a band actually came and set up shop in your room. It would be heard a block away. If you aren't willing to do all that then I think comparing live music and recorded music is a silly thing. Both are wonderful experiences, but fundamentally different. The idea of "absolute sound" I think is pointless and could only be really narrowed down to perhaps human voice and single instrument or something. I think the Decware folks once did a live-or-memorex kinda demo with a guy playing a...erm, one of those celtic things...between a set of speakers and seeing if it could be differentiated from a recording. I wasn't there or anything, but I think that's the only time you can really make a grab for the 'absolute sound' theory. Luckily, the rest of the time we are very pleased to experience heightened fantasy sounds. And that is what most recordings are, it's supposed to be art, not virtual reality. Mapleshade comes closest to virtual, but the raw, roomy, stereo sound is a distinct flavor of it's own. If that was the only game in town it'd be very boring.
Have you ever been to a live performance where the acoustics sucked?
Yes, just about all of them!

Eagles Ballroom in Milwaukee, WI - if it gets worse than that I haven't heard it. Well, maybe something like a stadium where you've got like 4 second echoes going on or something. The bigger the venue the closer you want to be to the stage, otherwise it can be a muddled mess.