Pace - Rhythm - and - Timing (PRAT) is what I believe brings life to a recording, in one sense. Combine that with a sense of extension in the top and bottom ends and you'll have most of it. Now add good dynamics and you'll have it (at least all that a stereo is capable of). Of course this all presupposes tonal accuracy and a lack of distortion or grunge.
Enjoy,
Bob
Enjoy,
Bob