Tim,
I want to address these three points, since I think we are on the same page otherwise. First, I think SACD is a a far better medium than CD. It has a more pure midrange and the noise shaping that occurs in the HF region is so far out that I and others simply don't hear it. I've got a thousand SACDs and when they are good masterings. I also was at several of these sessions and know what the event sounded like. Even with reference level CD playback, the SACD on a good player (no PCM conversion, etc.) always wins versus CD. There is just something wonderful about DSD encoding. Also, if you record a string ensemble playing the DSD encoding will slightly edge out the 24/176 recording. Both will be really terrific but I prefer the DSD. Of course, the microphone placement and skill of the engineer is also critical. Some SACDs simply sound bad because of the poor original recording. You cannot polish the proverbial turd.
I'm not sure I follow the third point above on DBTs. My point is that having critical listening skills is paramount and many of these tests which are designed to test equipment differences really wind up revealing those that do and don't have critical listening skills. But it can be an important tool. Many high end manufacturers do both objective measurements and subjective listening sessions. I like that approach.
So if you ask me if I like an objective approach or a subjective one, I would answer "Yes".

I think the truth lies with using both.