One factor that no one seems to have considered is that everyone's hearing ability doesn't conform to a template....just like vision can vary from individual to individual, from that of a hawk to the myopic Mr. Magoo, so does the critical sense of hearing. This may help explain why we perceive differences when a group (more than one) are listening to music from any given stereo system. Definitely not the major factor, but shadings can make a big difference. This theory only bolsters the position that you should tailor your system for what sounds good to YOUR ears, not someone else's. As I've aged, I find myself preferring the sound of what many would call mid-fi components or mediums of reproduction (vinyl and RTR tape, for example). As long as we're all still involved in the hobby, that's all that really matters.
The Absolute Sound vs Pleasing Sound
I have changed my mind about this over the years. The absolute sound (closest to real live music) just can't be accomplished even though I have heard some spectacular systems that get close on some music. So years ago I changed my system to give me the sound I wanted. I'm much happier now and all my music collection can be enjoyed for what it is: Recorded music.