The dynamic range, distortion of mp3 is immediately apparent as unsuitable for orchestral works - you don't need Golden Ears to audition That.
Now as to the idiosyncrasies of the modern very-big DACs, ADCs -- there are interminable discussions extant, many comparisons (a few even Bob-Pease-grade: ie double blind!) Out There.
Alas, to play in those strata - one needs everything from the $5K cartridge on through a plethora of philosophies/religions surrounding the speaker end and everything in between. Academic por moi; my little cilia have been eroded sufficiently as to miss the characteristically low levels of IM: as appear mostly as high-freq. artifacts.
But, snake oil guzzlers aside - there appears to be a consensus amongst even the non-tetched that goes: ~~ with suitably trained ears (that means: both the large personal Interest in the nuance of sound reproduction plus teachable techniques for helping the brain ID certain effects:
The very best vinyl pressings and analogue-throughout reproduction will tend to produce more goose-bumps (of the I think it's Live! sort) over the expensive CD players + their selected, very-well recorded CD selections -- preferably of similar if not identical live performances, in the more compelling tests.
But of course the S/N ratio is poor amidst the zealots of either camp. At the moderate-center of the topic, though, there is what I'd call agreement that where $$ is no object: vinyl 'wins'. Academic, given the sparse new releases-on-vinyl VS artists VS material of one's personal interest.
ie as most of the Great performances of all time: were recorded in the past, and only a trifling % of those ever transferred to digital (even fewer - at highest quality?) -- this is not an issue only for audio-reproduction purists.
We are going to LOSE art that should not die, until some Billionaire type, perhaps atoning for a lifetime of cunning greed? throws a lot of money into finding, cleaning, processing these disks: for all humanity. (I can always enjoy Amelita Galli-Curci, over the noise; but would still love to have the reducible repetitive crap digitized out!)
One $15K? or $150K laser player seems like a decent expenditure, once it is demonstrated to exceed the performance of the $5K+ jewel-like cartridges of today. IMO.
But we'd rather build a new Plutonium fab and replace the B-2 bomber yada because we are Sick.