Okay, we're just talking about amplitude losses then, with straighforward linear distortion via FR variation. Something that the ear/brain has to handle all the time in real life, therefore there is no problem with the mics capturing the sound sufficiently for the mind to perfectly recreate the musical event, if the playback system is working correctly.
Jack, what comes out a Marshall amp's speakers is sound, vibrations of the air, just like the human voice or a piano initiates, produced in fact by fairly crappy speaker drivers, by the standards of high end speaker systems. There is nothing magic about that sound (unless you're a Marshall freak, perhaps), it can be broken down by frequency analysis into its component parts and looked at like any other "noise". It has distinctive tonal qualities, and tends to be subjectively loud and intense, but that's all there is to it. If a high quality playback system can go loud cleanly it should have no trouble reproducing that sound completely accurately. Or do you believe in magic, perhaps?
Frank
Sure, I never said mics couldn't just that no one mic can do it all. Take bleeding as an example. That mike you've got on the snare will pick up that guitar amp 4 meters away and it will find it's way into the mix if you choose the wrong mic. We have to understand that a playback system working correctly just can not make up for a mic poorly selected, poorly placed and poorly leveled.
It seems you are over simplifying that wiggle again Frank. I'm with you 100% on the voltage swing side what I'm asking you to do is imagine what makes up those voltage swings in the acoustical energy and not electrical realm. I mean what's captured by the microphone, which is never all of it. Let's compare the two scenarios live vs. recorded. Let's make it a small honky tonk and you are in the front table. The singer is so near he could spit on you but this is a guitar solo so think of him as some big acoustic panel or something
I'm not trying to burst any bubbles here. In fact, if anything, I'd like us all to appreciate the PEOPLE that gave us good recordings instead of worshipping blindly at the feet of the technology they had on hand.