Many people here would benefit from reading Perfecting Sound Forever The Story Of Recorded Music, by Greg Milner. An absolutely fascinating book, which goes into a great deal of detail about recording, and studio tricks and such like. In particular the trick of compressing the dynamic range of music to make it sound 'louder' on crappy phone speakers and suchlike. Apparently the typical dynamic range of a contemporary CD is less than before CD's appeared. Vinyl was 'compressed', it had to be, it couldn't handle sharp transients in low or high frequencies because grooves would bleed into one another. I've got albums which used to jump because grooves crossed over on a particular sharp sound. Too much treble caused the lathe cutting head[/i] to 'ring' and overheat, so the studio mastering tape was EQ'd, which is why vinyl sounds 'warm'. Early CD's were mastered from tapes EQ'd for vinyl, hence the remastering of discs from the 80's. Some haven't fared too well from the process, and yes, I'm talking to you, Jimmy Page. You should never, ever haves been allowed to be even in the same room as the mastering suite. FWIW, and I've said it before, at 320Kb it's almost impossible to tell a recording apart from a full-fat CD original. And I have made a comparison between a number of tracks I obtained as FLACK downloads when I ordered a CD, most recently Laura Marling's new album. That was listening through Shure SE215 monitors and UE TripleFi 10 Studios.
You can clearly hear differences in studio mastering on various albums at that bitrate, and some albums which I loved on CD when listened to more intimately through quality 'phones have proved to be rather disappointing, in particular Fairground Attraction's First Of A Million Kisses, which really lacks sparkle, like viewing something in a dusty mirror.
Someone said disparaging things about Dire Straights, but Love Over Gold is a stunning recording, irrespective of one's personal opinion of the style of music, which is irrelevant here. The original vinyl was mastered by Bob Ludwig, at Masterdisc, and early pressings had their stamp in the runout groove. Later ones were mastered at Sterling Sound from second generation studio safety masters, a copy of a copy, and you can clearly hear a difference. If played on a reference system like my Logic DM101/Zeta/Audio Tecnica M/C/Rotel 820 Pre/Crimson Power/B&W system. However, few people are going to stump up £2500 or so just for a turntable, which is why the vinyl/CD debate is flawed, because the average listener with a cheap tower system is instantly going to hear a vast improvement when played a good CD on a reasonable priced CD/Amp/speaker separates system. Which I demo'd time and time again in the early 80's. I stopped buying vinyl when the fifth copy of Peter Gabriel's fourth solo album went back to the shop because surface noise rendered it unlistenable on my Logic. A good pressing is a wonderful thing, but all too easily compromised by neglect, and you never know how the thing has been messed up in the mastering, although that brings us nicely back round to the poor mastering of many contemporary CD's, and where we came in.
Read that book ^^, it'll open your eyes. And ears.