What can I tell you, Chuck? Find one and listen. Shouldn't be hard where you are. I tried to find one in the Ballimer area for Bill to hear but it looks like there aren't any. Its like Daniel Farris wrote here a while ago; hearing mine taught him to stop trying to discuss what he hasn't heard. BTW, I met the builder of the Immedia stuff on that same 89 Hassell tour on which I met you. He came to the NYC shows that Brian mixed.
Dominick, the thing that really disturbs me is that I used the Theta for a decade in what we might call a normal way. Then I got a PS Audio Power Plant Premier. You can look it up and read about it. When I powered up my whole system, the first thing that happened was my daughter said "Dad - look at the TV." A 1989 32" Proton she grew up with. I can't tell you how, but it looked so much better. Clearer and apparently sharper even with the edge-distortion setting at minimum, and I could turn the white levels down a bit more, etc. An ancient CRT performing far better.
But the Theta was vastly improved. It didn't quite get air or the openness of the MP, but that annoying sense of a ceiling sitting on top of the sound was significantly ameliorated. All from changing the stability and THD of the sine wave of the AC feeding the system. And even though all this stuff has properly regulated power supplies. David Bock has one in his shop, Joe Gastwirt has I think 4 in his studio.
I don't have an opinion about LP vs. CD on cheaper gear, that's not my mission, which is to try to get to the point where I can't hear the medium. (When I met my wife she had a $1000 system on which LP, CD, cassette and FM all pretty much sounded the same. It was perfectly functional. But her LPs all still play 2 decades later.)
The MP gets me closer to that ideal than I've ever experienced. Farris, again, said it was like listening to the output of a console, from regular 16/44.1 files.
But the frustrating thing is you put on an LP and something ineffable about it is just more real. (Insert monologue on Quality from "Zen and the Art of Motorcycle Maintenance" here).