Ted,
What if your system had incredible gain, especially in a phono section? Then all of your statements really don't stand tall. I do see where you are coming from, but I think you have to quantify it a bit.
To keep is simple, lets say we are listening to music that is loud enough that we have to talk in each others ears to hear each other. When the music stops (in between songs) that is the noise floor at that particular level.
I've heard some incredibly loud and dynamic systems that had a fairly high noise floor, but the dynamic capabilities were astronomincal. On the other hand, I've heard some very quite systems that had music fall out the speakers and crawled on the floor. Very quite and very boring.
I guess I'm saying that quite noise floor does not equal high dynamics, soundstage, etc. However, not to piss on your parade, I will say that it is a wonderful experience to listen to music on a system that is dynamic, projects a soundstage and can quite down to nothing in-between songs. That would be the sound you would hear from very high powered electro-static speakers. Fast, dynamic and quite. May I say Martin Logan?
Wayner