I have to admit that I also chased that "all enveloping" sound for many years. Then, one day, I realized that I already had it in my car and that no matter how good the car's sound system was, the experience never matched my home system or live music.
It hit me that live music normally had a 120-180 degree soundfield from the listening position (not 360 degrees)...and that tonality, clarity and dynamics were equally key elements in the overall listening experience. I stopped chasing "full immersion" and focused on clarity and tone and my home system experience moved up a whole new level.
I guess my conclusion is that 360 degrees is fun...especially for home theater....but at least for me when it comes to music, there are other things that are equally or even more important.