I grew up in an urban, blue collar neighborhood in the 60s; we didn't have much (any) exposure to live music. But my mom had that depression era better-yourself ethic, so she amassed a fairly complete record collection of classical "standards", and bought a pretty good component stereo to play them on. But I never saw her listen to any of them. Having these meant we were cultured people to her, but she was too busy getting things done to waste time sitting around listening to music.
I on the other hand had plenty of time, and listened to everything. When I was older I saved up my paper route money and bought a high end audio-technica cartridge, then began adding to the record collection.
When I was sixteen I got a job at the hospital which paid good money; 20 hours a week at $3.75/hr which was good money back in 1977. I took my new found wealth and bought my very first opera tickets. I remember sitting in the audience and being shocked when the music just came out of nowhere, without the preliminary low hissing and popping I associated with the start of music. But that was nothing to what followed.
The music had color, depth and dimension I'd never imagined music having. Even though by then I had a pretty good sound system, what came out of it was a washed-out echo of the real thing. It was one of the most memorable experiences of my life. I can't describe it, except to say that if music coming off a vinyl record was a strong cup of coffee, then live music would be shooting cocaine directly into your veins.
That experienced killed my budding audiophile tendencies. To this day if I had a thousand dollars to spend on music, I'd spend it on performance tickets rather than upgrading my sound system.
As for CDs, they seem to be all over the place to me. Early on there were a lot of bad CDs because of bad engineering. Some were released with their vinyl oriented RIAA equalization intact, which is just plain dumb. People like to argue about technology, but I think recording engineering is an often overlooked factor in what comes out of your speakers. I have an MP3 album of the original cast recording of "Hair", and it sounds great over a good pair of earphones. It's not because of some kind of magical MP3 pixie dust, it's because the original recording was done so competently. If something is missing in the original master tapes, no amount of lossless encoding and copper-free speaker cables will conjure it back.