Viridian wrote: "There are tons of performances that have only been issued on LP and never remastered on any other format..."
There is another option. Over the past 10 years I've converted about 2,000 LP and open reel tapes to digital format. I now have my entire collection on a music server and, other than a few items with sentimental value, got rid of the LPs.
I resigned from the "audiophile" club long ago. Digital has its own issues, but I find it amusing when the vinyl advocates blithely overlook the inherent clicks, pops, surface noise, off-center holes, inner groove distortion and other flaws while proclaiming the format inherently superior.
My take? I have wonderful recordings on LP and lousy ones. Same thing is true of digital. Many of the complaints about modern recordings have zero to do with format. Rather, the problems are based in the fads and fashions currently in vogue in the recording industry.
I've got a couple of 2nd generation open reels made from master tapes back in the early 1970s. When I record them to digital, they sound just like the tapes! The digital process does nothing to change it. The same thing happens when I digitize my LPs - unprocessed, they sound just like the original LP.
I know the golden eared types can spend endless hours worried about minutia, but as respects impact on sound quality, I find the original choices made by artists, recording engineers and producers multiple orders of magnitude larger than the storage format decision.