@flash56: Yes, the misapplied Dolby playback equalization decreased the percussive attack of the drumstick tip striking the snare drum and tom tom drumheads, and of the felt bass drum beater striking the kick drum batter head. With my sunray Island copy of the LP, the kick always sounded weak, anemic to me, with no punch or power. I attributed the dead, lifeless sound of the drumset to the then-common practice of over-muffling drumset heads in the studio (Ringo’s snare drum sound on Abbey Road is terrible for that reason. He recorded with a towel on top of his snare drum head!). Still, I couldn’t understand why Harry Pearson and Michael Fremer considered TFTT to be such a great sounding LP, and chalked it up to my having only a sunray label pressing, not an original pink label one.
But the first, most obvious difference is the missing "click" of the pick on the guitar strings, and the missing harmonic overtones of the guitar. And Cat Stevens and producer Paul Samwell-Smith didn’t notice that?!
By the way, Analogue Productions made the album in both 1-LP/33-1/3 RPM and 2-LP/45 RPM versions. The 45 RPM version is of course reported to sound slightly better than the 33-1/3, but I went with the 33-1/3 pressing as I’m willing to sacrifice a small degree of sound quality to get the full musical programming flow of each LP side. Music first, people!