The finest audio system I've heard ($1.5 million von Schweikert/VAC/Kronos/etc). presented a overwhelming realism based on my three most important factors. Sure there was air and ambiance, but what struck us most of all was the realism of the 3 factors above.
Younger audiophiles are often unacquainted with live acoustic music heard in good acoustic venues. I listen to classical, vocal and jazz in live venues. (I also listen to manufactured sounds as in rock and electronic sounds as in Yello). Essentially, the high end audio system must get the first three factors correct and will achieve the air, ambiance and holographic sound as a bonus. How often have I heard high end systems miss the big 3 and have tons of the latter 3 bonus elements playing Diana Krall and Patricia Barber recordings. Young audiophiles need to hear all types of music to gain an understanding as to what makes music sound good and engaging. The last decade has had so many equipment manufacturers trying to outdo each other in the realm of air and holographic imaging. They should be concentrating in presenting the big 3 factors first.