[MP53]

I assume the Live Band is playing through some type of transducer, or it would be difficult to hear them
 
In a large scale concert environment, like the Hollywood Bowl, it may be a toss up.  In a smaller scale environment, a small club - the live performance wins every time.  Just my opinion.

 

[Billheiser]

I no longer go to Wolf Trap because of the sound. ..

People really love wolf trap; I'm not one of them. It's not often a place for music- crazy people. I think a lot go more for a pleasant picnic with wine and background music. Dang yuppies.

 

[V1001]

Like others say it all depends. Depends on instruments and venue. And if you're talking accuracy or just plain enjoyment or what ever else comes with the experience of either.
 
With your typical band in a live set up you're hearing the actual guitar being played through the guitar amps that they chose and want it to sound like. That is the essentially the same as hearing an acoustic instrument live. Because that is how it's supposed to sound. The amps they chose are really a part of the instrument.  And then drums are usually not mic'ed unless it's a huge concert. So those are raw and real. Even though vocals are mic'ed you still hear the actual voice too going past the mic. 
 
And then you have big concerts where if you sit in the back it sucks, but if you're up front in the pit right near the band it's so powerful and alive that it can't be beat. 
 
The experience of just being somewhere carries over into the entire flow and feel. Not to mention that each live performance is unique, and you get a unique sound for each venue. It's never really the same song each time. 
 
And of course you have crappy set ups and good set ups for both. Assuming good set up for each, I far more enjoy live performances, and would say they sound better in those ways mentioned above. Remember live concerts also have each instrument with their own dedicated amps and speakers for each instrument many times. No digital converting going on either, no down mixing and up mixing and such. Just straight analog from the instrument to it's own speaker (again it all varies so much though). But both have their place. It all depends on far to many variables and can't really be compared so vaguely. 

 

[james6333]

Live bands through PAs sadly sound like total crap. Too much bass, too loud, shouty vocals, no details. Home system is better.

But real live music un ampped or even ampped right is a lot better.

 

[Dillan]

Live bands through PAs sadly sound like total crap. Too much bass, too loud, shouty vocals, no details. Home system is better.

But real live music un ampped or even ampped right is a lot better.

Yea it's as simple as this really

 

[Billheiser]

Live bands through PAs sadly sound like total crap. Too much bass, too loud, shouty vocals, no details. Home system is better.

But real live music un ampped or even ampped right is a lot better.

"PA's" cover a lot a ground, from bad to good.  I have HUGELY enjoyed performances that happened to include a poor PA.  And vice versa.