ghost, i've previoulsy debated whether layla is overrated, but ultimately always came out on the side that says it's not. there is a bunch of filler--key to the highway and have you ever loved a woman are the sort of lethargic dross i think you're referring to, although they really nail nobody knows. mostly, though, the originals are transcendent--it's as if clapton, who ("badge" and "presence of the lord" aside)was never much of a songwriter, was momentarily infused with genius. as for the sound, it is sorta murky, but i couldn't conceive of it any other way. like you and whart suggest, it may be pressing-specific.
our quibble as to layla's merit notwithstanding, i do agree that nothing clapton did after 1970 is particularly lovable. his good stuff had a strong collaborator (jack bruce/duane/the bramletts); if you look at his stone classics, very few (presence, bell bottom blues) were solo compositions. as always, many may disagree.