Should a good system sound bad with bad recording?


A friend of mine came home with a few CDs burnt out of "official" bootleg recordings of Pearl Jam NorAm tour...the sound was so crappy that he looked at me a bit embarrassed, thinking "very loud" that my system was really not great despite the money I spent. I checked the site he downloaded from...full concerts are about 200 MB on average. I guess I am dealing with a case of ultra-compressed files. Should I be proud that the sound was really crappy on my set up?!!!!
beheme
First of all, welcome back Slappy! Of course their is one option that is taboo in many minds, equalization.
Jaybo: interesting point. Is the issue of resolution one that we should care about then? if the complete concert is about 200MB (thus about 120MB per 1 hour CD), how can this be an "audiophile" recording? I think I am missing sthg here. I like your perspective though as it goes against the "grain"!
I think it would help greatly if you had bass and treble control......i am finding out that high end means only playing a few recordings and not being able to play most........so what is the point of paying alot of $$$$$ to not be able to tolerate most recordings???

I have Krell gear and i hear from a relative,"you need a mixer", "not enough bass" and it pisses me off.

Spend the big bucks and then everything sounds like crap.
If it's a professionally done recording and you're playing it from at least a 16/44 source (or some loseless equivalent) then something is wrong with your system and/or your setup if you're finding a significant percentage of new recordings are "unlistenable". A good system will show the flaws of commercially oriented recordings, but it shouldn't make them sound like crap.

EQ and tone controls can correct for tonal imbalances, but nothing can undo excessive compression.
Bad CD's sound worse on good equipment. For example, I made the mistake of buying a few Laserlight releases on sale from Tower Records. They sounded bad in my car, but really attrocious in my music room. I ended up throwing them in the garbage.
Jay