I guess you are very much like me. We never sleep:-)
First of all we need better definitions. I am referring to 2 channel systems. I have a 2 channel system , but it is comprised of 6 individual loudspeakers forming a full bandwidth line array.
When I refer to "good hearing" it is not just the measured performance of the ears themselves, but also the training and interpretive powers of the lump connected to them. Not a problem. Once exposed to such a system you will never forget it. I still have vivid recollections of the High school teacher's apartment and system.
I must be a fool then. With your eyes closed playing a 24/192 version of a great live recording like Arctic Monkeys Royal Albert Hall or the perennial Waiting for Columbus, the only audio clues that you are not at the real performance is the crowd noise coming only from in front of you and an image that is much too good for a concert of this nature. Playing music this way is for demonstration purposes only. Running at such a volume on a continual basis is not good for your ears or your marriage. My house is an open design with very few doors. The media room essentially exits into a large cavity. There are enough late reflections to convince the brain that you are in a larger venue or not necessarily in a small one. Playing classical music or acoustic jazz is probably a better, safer indicator and will produce the same results.
Immersive sound? Do you sit in the center of a band or orchestra? Immersive sound is for theater use. My system does double for theater use but I am not willing to compromise it's 2 channel performance