I think one of things that leads to confusion when it comes to issues such as these is a lack of general understanding of the nature of hearing.
Hearing takes place in the brain, not the ears. The ears essentially transducers. They convert periodic fluctuations in air pressure over a certain range (i.e., "sound") into nerve impulses. The ear itself is a transducer, like a microphone. It's principle is quite different from any electrical transducer that is commonly used as a microphone, but nonetheless it is a transducer. But the experience of "hearing" is not just transduction of sound into nerve impulses- it is the processing of those impulses by the highly adaptable systems in the brain that comprises hearing.
Brain systems interact with one another quite strongly. Things like "ideas" and "emotions" which are present in the brain have an impact on things like hearing. Quite a bit of this interaction is beyond conscious control. You can try as hard as you wish to be objective, but you cannot stop the various other things going on in your brain from having an effect on your perception. The process of hearing is actually modified by other activities in the brain. Some of this is under conscious control- for example you can concentrate on certain sounds, and "tune out" others- but quite a lot of the brain activity interaction that takes place when we hear is not under conscious control at all. There are various biases that color judgement which have an effect on HEARING - not just an effect on the JUDGEMENT OF HEARD SOUNDS- but on the the BRAIN PROCESS OF HEARING ITSELF.
Thus, if you are convinced that CABLE A sounds "brighter" than CABLE B, you will ACTUALLY HEAR a change in sound when you know you are listening to CABLE A. This is not a change in "objective reality" of course, but in your brain's processing of an input stimulated by objective reality. I am not saying you "think" or "feel" that CABLE A will sound brighter- I am saying it will ACTUALLY SOUND BRIGHTER TO YOU because of the way the brain works. This is totally beyond your control. Human beings CANNOT will themselves to be objective in this regard. Our "human hardware" is not built to allow this. So the folks who say they ACTUALLY HEARD a difference in CABLE A vs CABLE B are right- they DO hear a difference. However, this difference is based on factors in their brains and not on an aspect of objective reality.
Their ability to hear a difference between CABLE A and CABLE B will disappear in a blind test. The difference they hear is related to things going on in their brain, and once they don't know which cable they are hearing their brain will no longer produce the sensation of hearing a brighter sound from CABLE A. This is why the "subjectivists" say that blind testing doesn't work- because it does actually change the way they hear the cables. But since this change is in their brains and not part of the actual audio signal carrying properties of the cable, "objectivists" would say that the cables actually do NOT differ in sound.
This is a phenomena related to placebo effect. Placebo effect is not "imaginary" - it is a REAL effect, but it takes place in the BRAIN and not in 'objective reality.' There is a difference between "imaginary' and 'in the brain,' though this difference is conceptually a subtle one and is something that most folks debating this issue don't grasp.
So, if you listen to a certain cable and decide it has a certain sound quality, that sound quality is real as far as your hearing is concerned. This is related not to the properties of the cable, however, but to the properties of human perception. The difference in sound that you experience is not related to objective properties of the cable, but to conditions set up in your brain by a complex collection of cultural, educational, emotional and intellectual processes.
So, in a sense the subjectivists and the objectivists are BOTH right. Listeners can have an experience of sonic differences that are quite real to them, but if they did not know which cable they were hearing these differences vanish.
The BRAIN is the issue here, the electrical properties of the cable itself are not involved.
Of course, some cables DO have high enough inductance and / or capacitance to have an electrical impact on the audio signal- quite often this is intentionally introduced by the manufacturer. I've seen speaker cables that have L/C networks built into a "pod" or other so-called "coupling module" - the manufacturers give these networks some very fancy and magical names- but in fact all they are is a kind of filter. These are TONE CONTROLS which are built into the cables, and so of course they will change the audio signal being carried by the cable.
But given a cable that is designed to carry the signal without changing it - which is what almost all interconnect and speaker wires do- it has been shown over and over again that in blind tests no listener can distinguish between cables.
On the other hand, if you've paid $1,000 for 3 feet of wire, and the cables seem very well made when you handle them, and you're read that others review these cables highly, and you've read the manufacturers claims regarding "propagation speed" or "conductor geometry" etc you will very likely hear a difference when you know you are listening through these cables.