Petaluman,
You said, "It's not about the sound." Half true. The live experience combines sound and visuals. But the next time you attend a live concert, close your eyes and listen honestly to the sound. The sound is the main subject of this discussion thread. Many people here have addressed the comparison between the live concert sound and the home audio sound. Although live unamplified sound is more natural than that of any audio system, at a location far away from the performers so much detail is lost compared to any decent audio system playing a relatively unprocessed recording. As a performing violinist, I listen carefully to my colleagues performing, and as a listener I seek to hear as much detail as possible to appreciate the music. To appreciate full details and nuances, no live location far away can compete with a good audio system. But front row center always beats any audio system for detail and naturalness.
At a recent concert I heard the Prelude to Act 1 of Lohengrin by Wagner. From front row center, the sound of the front stage string section was superb. But the cymbal crash from the back of the stage was AWFUL--muddy from excessive distance and too much reverberation. It sounded like the tweeter was blown on a bad speaker. Even an intact low-fi audio system is better for clarity than that mess.