"No matter what the resolution and data rate a digital representation of a sound, it will always be an approximation of the original event."Isn't that true for analog (vinyl in most of the above posts), too? It is an approximation, attempt to reproduce, the original event. No matter what quality of an analog recording it is. Any recording is, essentially, fake. Be it analog or digital. You may prefer the way one is manipulated more than the other, but true representation they are not.
When it comes to "reproducing live concert (unamplified, let's say classical music)", I am yet to hear the equipment/sound-carrier combo that can sound as bland. Any recording seems to sound richer. I suspect that many of us who babble about how the system should sound would quit these debates if we went for concerts more often. Blacker blacks, rounder mids, all that poetry is gone in a concert hall. It may something to do with a venue, but not all of it.