No matter what your preference is, oftentimes the recording will dictate the presentation, but of course, the overall power response of your speakers and the way they interact with your room will always have a strong influence. I personally prefer the "you are there" experience most of the time, as I feel I can get a better perspective of the total picture.
You are there-they are here
What type of presentation do you prefer when listening to your system? Do your prefer the illusion of being somewhere listening to the performers or the performers in your room performing? Also, based on what you prefer, what speakers are you using? Hope this question makes sense.