Musical instruments themselves can have a have warmth characteristic also. Different woods used in a violin for example. It's not only tied to sound of an audio system.
As far as musical instruments go, here's a good example of them using warm to describe this piano. It has well accepted by musicians and then audio, around the world. Mr. Holt may have gotten the idea from musicians.[http://steinwaychicago.com/instruments/steinway/grand]
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