Can a music recording be better than "live"? If so what's your limit for your system? When should you be satisfied that you are "there"?
If a recording can be better than a live performance, and I believe they can, then perhaps a lot of confusion and contradiction found on this and other hifi forums when debating the merits of various hardware can be placed on the notion that we have been ignoring a hidden assumption, namely what is your goal for your system in the first place, natural reproduction or super-natural reproduction?
When I have heard uber-expensive mega system I have been very impressed by the experiance. But what was that? My head next to the violin, the singer whispering in my ear. The bass making my chest pulse. Very few if any live music experiences I have ever had had that same level of intimacy and detail. In the real world there are always compromises. The room, the crowd noise, the sound "reinforcement" system, the seating. These all detract to some extent. But that is real, that is live. We ignore most of that because we are into the moment and the music.
So what is the super system experiance? Possibly something akin to fine food laced with Monosodium glutamate or a beautiful photo digitally enhanced to deepen the color and augment the shadows.
There is no right or wrong in this dichotomy. I just think it is helpful to be conscious of it and know what you are seeking from your system. This knowledge may allow you to relax and stop chasing the pot of gold at the end of the rainbow. My past 10 years of experiance since actively returning to the hobby is that many systems do it for me. I've got a threshold that a system must meet and after that it is only about the performance and the quality of the recording. I don't want any more from the hardware at that point. The rest is up to the artists before me. Live quality is all I ask from my systems and that can be achieved with the right knowledge and a moderate investment. My goal is finite.
I don't begrudge those whose vision of the auditory is potentially infinite. Probably some day we will be able to buy super human hearing. How about hearing like a dog, or a owl or a bat? Fabulous stuff but probably coming sooner than we think. If you are on that trail you will have the priviledge of spending as much as you like, I am sure.
So what is your preference and is live a valid reference for you or is your hifi journey one with no limits?