Thanks for the topic, erik_squires...
20+ years of refining the sound quality in my dedicated, difficult (almost cube) small listening studio, proceeded by 30+ years of hi-fi experience, has been a journey, indeed. My other posts touch upon facets of the process, if you have interest. Others have mentioned reduced noise floor and improved refinement of resolution abilities in modern playback, be it analog or digital. Yes and yes.
Across the board, gear has improved despite our nostalgia. Highly skilled application of Digital Sound Processing is improving exponentially, both in design and application by skilled Sound Technicians. My Tech in San Jose studies and experiments with these improvements on a daily basis. Mike currently has me set-up with digital playback of 24bit/48Hz down from 24/96. Things have never sounded better in playing back my lossless rips or streaming.
I have attempted to communicate some of my experiences with both Stereophile and The Absolute Sound, receiving zero response. Let's keep in mind, the audio journals and professional reviewers must be supported by the manufacturing and sales industry to stay in business. Fair enough. If enthusiasts discover DSP improvements are indeed possible no matter how good their systems (including vinyl playback) in addressing loudspeaker/room behaviors, sales are threatened. Robert E. Greene of TAS has reported positively in some of his reviewing around DSP, keeping within the context of the gear under review, especially self-powered loudspeakers, another bold, futuristic audio topic.
fsonicsmith above stated weariness around Stereophile's Mike Fremer recent gains by going to great lengths improving his source for electricity. A resounding YES from me from my experiences. Removing non-musical noise artifacts allow frequencies previously masked by noise to be heard, often resulting in "...new details and delicacy (heard) in (the) music..." Precision DSP corrections can do the same in correcting how loudspeakers interact with a room, congesting frequencies, backed-up by frequency sweep measurements. I recommend using room treatments to get you as far as possible BEFORE fine tuning with DSP.
So, there's my 2 cents. My goals are in attempting to remain fluid around new technology and advances in our beloved hobby, ever moving towards the impossible: our artists replicating that moment in time in, our homes.
More Peace; Stay Positive & Test Negative Pin