Thank you for the great discussion, I've been only reading so far so as not to distract from the original topic. In my opinion, in hifi you can go 3 extreme routes in order to achieve what you think represents live music accurately. 1) A preamp and massive power amp coupled with huge speakers 2) A fleawatt amp anything from 2-20 watts coupled with some highly efficient speakers 3) the active speaker route.
Having recently heard the audiolab 8000 pre/power, BnW 683 and Rega Planet combo which is a good setup by most measures, my opinion is that it does big very well, it throws a big soundstage with big dynamic swings and it has big bass with bags of control. However, I do not think of that to be an accurate representation of a live venue playing jazz, it just doesn't have that subtlety, the soul and the emotion. It does electronic music rather well and is very comfortable with the likes of Massive Attack, Nicolas Jaar etc.
Then come my Cayin amp, custom Avatar speakers and my humble Dac-magic. It has no deep bass what so ever but goes as low as the lowest note on a cello, it is uncomfortable with hugely complicated bassy tracks. However, it has subtlety, sophistication, timbre and conveys the size of musicians in my room accurately (they don't appear to be 10 feet tall). Not to mention the soundstage is even more precise than the previous combo. It works magic with jazz, classical and acoustic but is absolutely sub par with electronic....I cannot play them with electronic at all.
Then is the active route, I think its the best compromise, it has power when needed but subtlety when not. However it doesn't do either as well as combo a or b.