HiFi lacking social recognition?

When the iPod first appeared, my initial reaction was, there goes the high end. But now that I have one and use it on business trips, I believe that in the long run there will a resurgence of the audio business as younger people begin to make expendable income. At least those who care about music will pay enough attention that they will eventually want something that sounds good for dedicated home listening. Hey, the blank cassette tape format was supposed to destroy the LP industry, that didn't happen. And for recordable DAT and CDs, same thing, the music industry is in the pooper these days because of promotion of music that doesn't even qualify as wallpaper, and because of independent musicians that make good music in an independent fashion and then, as required the industry, self produce their art before they are recognized. Long gone are the A&R guys. I am hopeful and I think the iPod will evolve more toward the best that audio has to offer. There are enough of us out here to perpetuate our interests and share them with others. People will always be drawn to that which is good and fullfilling. There's only so much partying you can do.

I think it's a sign that when people buy luxury items they usually want others to be able to see it: ostentatious displays of wealth are in.

Hifi fails lamentably on this account, which makes it much more worthwhile in my opinion.

Crap! This was my only chance to get into Forbes. Oh well...

ironically, 'best buy' started life as 'the sound of music', a store specializing in mid and high end two channel. they just went with the flow.

I can't help but wonder, if MP3/Ipod and Home Theatre (or the perception of what "home theatre" really is, after all anybody can buy a HTinabox to lay claim to membership) has marginalized HiFi as some kind of obsolete past time pursued by people who are out of touch with the (current) times.
Lets face it, if one didn't know better, spending vasts amounts of money for phonographs, tube gear and analog tuners, that require a great deal of maintance (comparatively), and require one to be seated in specific isolation, limit access to the very thing they seek out (music) and require one to rummage through garage sales to find the necessary NOS tubes and LP's may not be too appealing to the new generation, that can get what they want, any time they want, where ever they want. We may be facing the crossroads of convience vs. quality.