If you're used to listening to the mono version, this stereo version will sound very different. Two different mike setups were used. Here are Steve Hoffman's comments:
The 45 rpm stereo record certainly sounds great here, but as Steve Hoffman points out, it's not as close-up as the mono due to the difference in mike placement for the stereo recording.
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The stereo and mono recordings of this album were done with two separate microphone setups. The stereo had two mics up in the air and the recording is not as close miked sounding as the up-front mono version (on Chad's MONK box set). The stereo version is one of those "you are there" recordings, you can reach out and touch the players!
http://www.stevehoffman.tv/forums/showpost.php?p=614912&postcount=12
Those two microphones in stereo essentially act as a pair of ears. It's like you are standing right in the middle of the studio, with Monk on your right, the drums behind him and the two sax players (John Coltrane and the father of modern Saxophone, Coleman Hawkins) on the other side of you. Quite exciting. The mono has the bass miked and the stereo doesn't, but it sure sounds realistic. The tape boxes were marked "binaural" by the way....
http://www.stevehoffman.tv/forums/showpost.php?p=615342&postcount=2
The 45 rpm stereo record certainly sounds great here, but as Steve Hoffman points out, it's not as close-up as the mono due to the difference in mike placement for the stereo recording.
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