Interesting discussion. Thanks for (almost) all of the comments.
I'm going to make the point early in my comments that even with compromised hearing with age we can have a listening experience as enjoyable and engaging (if not more) as when we had our youthful "20/20" hearing. I'll get back this in later.
As I understand it, hearing degradation occurs primarily at higher frequencies. Our perception of the world stays pretty well intact thru the majority of the frequency ranges. The fundamentals of instruments, voices and other things that make music recognizable and enjoyable are still there. And, bottom end still moves lots of air, and our clothing at full listening levels. We also can perceive changes in amplitude (dynamic range) whether it be as dramatic as a cymbal crash, raging guitar pushing itself out from the rest of the instruments as well as subtle vibrato and trailing voices (micro dynamics). As BB King stated: "It's not the notes I play, it's the space between them." Yes, our "clocks" still work and we can perceive rhythm and those "dark backgrounds" between the notes. Our "antennas" are still sensitive enough to pick up spacial information, send it to our (aging) brains to align and position instruments in space. Yes, our systems can still present a believable soundstage, place instruments and voices in a 3-dimensional space, and create a virtual center channel in the space between our speakers. In other words, our "old" ears can still capture the essence of great performances and send them to our brains in good enough shape so we can still marvel at miracle of having the energy and presence of deceased musicians standing (or, sitting) in our living rooms.
Now back to the opening comment. I have to acknowledge that my hearing has deteriorated. The delicacy of extended high frequencies is missing in action. However, over 40-50 years I have become a better listener. In the 70's I wasn't listening for micro dynamics and dark backgrounds as I am today. I have also developed a profound appreciation for gifted musicians, producers, conductors, song writers, and those who produce the hardware that contribute to those speaker cones moving back and forth coupling with the air that creates the sounds that I hear that brain interprets that sends a message to my mouth to smile.
As an "audio guy" who sold decent gear for all of my adult life, I often heard the comment: "Well, my hearing isn't very good. I don't need waste money on anything special." My reply went something like this: "So, if your eyes aren't very good, your best friends are large, dark print on white paper in good light. Correct? If you're ears aren't what they once were, your best friends are increased dynamic range, focus, detail and a more defined space between the notes."
The goals of better audio are not inconsistent with hearing loss. In fact, hearing loss easy justifies the investment in better gear.
