Stanwal, I almost agree with your statement about the failure of measurements to correlate with subjective preference. I think it's fair to say that the audio industry has been measuring distortions that are easy to measure instead of measuring distortions that correlate well with human hearing. However, there has been progress made in this area recently which you are probably unaware of.
If you have access to the Audio Engineering Society's library, you might want to take a look at "Auditory Perception of Nonlinear Distortion - Theory" and "Auditory Perception of Nonlinear Distortion", both by Earl Geddes and Lydia Lee. Therein you will find described a rather complex metric that correlates well with subjective perception. The industry has largely ignored it, aside from this article from Audio Express magazine:
http://www.gedlee.com/downloads/THD_.pdf
See also this letter in response to the article:
http://www.gedlee.com/downloads/Comments%20on%20howard.pdf
Duke
If you have access to the Audio Engineering Society's library, you might want to take a look at "Auditory Perception of Nonlinear Distortion - Theory" and "Auditory Perception of Nonlinear Distortion", both by Earl Geddes and Lydia Lee. Therein you will find described a rather complex metric that correlates well with subjective perception. The industry has largely ignored it, aside from this article from Audio Express magazine:
http://www.gedlee.com/downloads/THD_.pdf
See also this letter in response to the article:
http://www.gedlee.com/downloads/Comments%20on%20howard.pdf
Duke