As usual with his observations, Vox is pretty much on the money. One thing most audiophiles seem to forget is the impact of misspent youths and ageing on ones' hearing.
I played in a band in my youth, vocals and electric violin in a very loud rock band, we always set the group up in the same pattern on stage and as a result I have a marked roll-off in my right ear.
From the age of 12 our hearing is on the decline.
This is the reason that young people find high notes at big levels physically hurt their ears, this is the way older folk like me have our equalizers set up, in a vain attempt to hear those treble notes. Conversely, the fluid in older folk's ears has a higher viscosity than young people, which makes the high level of bass notes so favoured by youngsters painful to older folk. Your grandchildren will often remark on how older folk like their music really tinny.
So as an audio engineer with 50 years experience, take my word for it, you are wasting your money spending a lot of it on an expensive audio system, your ears just won't hear it once you get much past 25 years old, depending on the environment in which you have spent your life.
If you are an Inuit hunter in the Arctic who hasn't worn headphones and been to many rock concerts, you may have exceptional hearing until you are late middle-aged. For the rest of us, 25-30 old is when we are past our best hearing.
By the way, another rip-off myth is monster cables. Unless you are fitting subwoofer units into nightclubs (of which I have done many), with long cable runs they are a total waste of money. Speaker voice coils have internal coils of wire with a diameter of not much greater than a horse hair. The energy levels involved are not that great in a domestic subwoofer setup, so don't waste your money on rip-off cables.
Tony.