The sense of smell evokes memories, while the sense of hearing evokes emotions

It is the chords, melody, harmony, counterpoint, inversions, etc. in music that evoke emotion. That can be provided by even a car radio. Higher quality reproduction has more effect on the intellectual properties in music.

bdp204, Interesting point! would you say that chords, melody, harmony, counterpoint, inversions, etc. in music that evoke emotion comprises most of what we seek to attain?

There are times when I get more involved through better sonics, but there are also times when I'm engaged thoroughly through the crappy laptop or whatever. So much depends on mood in my estimation.
In writing about Atomic Rooster's Death Walks Behind You (a great heavy rock album if you haven't heard it), I saw the connection between the senses, noting that if I were a synesthesist (one who experiences sensory phenomena through other senses, e.g. hearing music as color), the sound of Vincent Crane's organ would be the odor of overripe flowers, a morbid sound—the smell of death. 
No question music triggers emotion, and that can be without highly  fidelis reproduction.  

It is my brief experience that this IS a music lovers forum. At least there are some devoted, knowledgeable, articulate and sincere music lovers here.

And I feel like some of us did answer your question. At least I thought so. And I think maybe the answer is, it all depends.

As mentioned, some forms of very emotionally charged music, especially raw, simple, even primitive music do not require high end specs to move me.

There are certain symphonies that move me emotionally regardless of the system they are played on, but they do have more impact when played via a hi-fi system that fills the room with volume and richness. Likewise with an album like The Wall. 

I think it is also important to remember that we can physically feel music aside from with our ears. This is in part a product of volume. That level of volume from a low-fi system can be distracting and unpleasant.

But, specifically to your question: As a long time music lover but a new audiophile, I couldn't care less about specs. Heck, I don't understand most of them. If the music moves me it moves me.