It's a score draw IMHO. The fact that there's such a variation in sound quality of both records and CDs, before we consider the merits of the equipment, throws it right up in the air. If equipment was the sole consideration then I'd say that on a budget CD would triumph pound-for-pound (mainly due to detail retrieval) but with more funds record comes into its own. I keep both and they each hit the spot in their own way. If I only have an hour and need a "hit" from a mix of tracks then I'll opt for CD, whereas if I have the time then letting a record run from end-to-end is one of life's great pleasures.

Pete