I bought the new Metallica album Death magnetic on Warners US 2LP set.
Expecting to hear this terrible compressed, overloading sound I was pleasantly surprised. It sounds pretty good. Not that dynamic in the bass, but it is reasonably uncompressed and has no overload or distortion whatsoever.
Sounds like this issue is about the CD mastering. No suprprise to us LP lovers.
BTW, St Anger is a very good recording - huge drum so0und and hiuge dynamic range - it must be heard on a full range system thou to be appreciated.