IMO, it would be headphones. As a Stax owner (009's), I'm probably spoiled. My main system is fine, but I've had to make compromises on speaker placement (like many others, I'm sure). The detail you hear through quality headphones, with tube electronics, is phenomenal. If it's on the master tape, you'll hear it through headphones. Somethings just get lost through speakers, unless you have a dedicated listening room similar to those found in brick and mortar stereo stores.