Dave,
if you ask me...yes it is. the cd surely is a cool format BUT it is limited due to its resolution of 44.1/16. just take a look at
www.hdtracks.comthey offer hi res music from the mastertapes. my understanding is that they use the analog tape in order to define the final sample rate.
regarding my own recording results i have to say that compared to "regular" stuff it happens that i can listen more "into" the recording/sound. even the speaker's woofer moves more when hi res stuff is playing

. that's the great thing about vinyl...it represents the analog waveform in its native form without being "interrupted" by any mathematical treatment (or whatever you may call it). vinyl rules! anything else is just a nice attempt to reproduce the analog waveform - even if it is high resolution material. in any way it will always be a COPY of the original waveform! but in general you can expect hi res stuff to have more substance than 44.1/16 stuff (given that the source material is analog).
anyone who has different opinions/experiences about what i wrote down here is welcome to share his own thoughts.
al.