I have been wondering about this issue. Recently I have made some comparisons between good remstered redbook CD's and their SACD counterparts. I have done this on a few different systems of varying quality (mid-fi, very hi-end). Some of the discs I have compared are Bill Evans -- Sunday at the Village Vanguard and R.E.M. Reveal. To my ears, the most recent redbook remaster is AS GOOD as the SACD or DVD-A. This comparison is using the same CDP, levelling the volume as much as possible.
Of course, the SACD blows away earlier version of the redbook, like first or second generation CD transfers from the 80's and early 90's. But when it comes to the most recent redbook remaster. The difference is insignificant (IMHO). Now, if it is a pure DSD recording, then that is by far the best sound I have ever heard -- but there are not enough of those for me to take it seriously and most of the music I love will never be newly recorded. I am seriously thinking of investing in the best redbook player I can afford, and selling my non-hybrid SACD's.
I am thinking SACD has been a good ride -- it opened up new genres f music listening for me (jazz and classical) -- but I think I may be done with it.