Can We Agree to Disagree? (LP vs CD)

Can We Agree to Disagree? (LP vs CD)
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I don't know if this would be classified as a tweak, but I guess it could be considered a tip, so I'll post here.
The last day or so, I've been listening to a CD burned from a download of the Ultimate Demo Disk 2 from Chesky Records.
I downloaded it as a set of FLACs and converted them to AIFF with Max, and burned a CD in iTunes. Been listening to the CD the last few days on my state of the art Sony Playstation, SPCH-101. I bought one of these for a whopping $34.95 on eBay after reading Art Dudley's review of it in October.
I've been ripping CD's to my computer at different qualities and playing the same song with different bit rates, and I can definitely hear the difference between the higher and lower quality rips, but I have trouble describing and isolating what exactly are the differences.
I can also do the test on random (so not knowing if I'm listening to the higher or lower quality rip) and I can still tell which one is the better one or not (up to a certain extent, I limited buy my equipment at the higher quality).
An interesting article, the cover story in fact, in this week's Economist magazine. Whether it is science or spirit, it seems that it is indeed the universal language across all humanity.
Everyone post! I'll start:
1. The 14CD-Messiaen 100th Anniversary box. I'm sure I'll go get this before the year's over.
2. The Wagner Ring (Keilberth) on Testament, the LP set... I already own the CD set. 19 LPs, $500 (holy crap.)
3. Alfred Brendel's His Vanguard & Vox Recordings (36 CDs)... I grew up with Brendel's Beethoven set on Vox. I've heard better versions of Beethoven sonatas, but none are more dear to me than the early Brendel accounts. The thing is, I listened to the cassettes back then... so this is definitely one to buy & keep near me...
I recently read Bob Bairds article on the recent revival of a record pressing plant in Brooklyn, NY.
Looking at some of the photos, it appears as if the vinyl compound is the same schwag that's been used for the past 60 or so years.
Hasn't chemical engineering advanced just a little since 1950? Or is vinyl LP manufacture regarded as a "poor relation" that is simply not worthy of further development?