I'm as confused as you my friend, I don't know what's going on. I listened to the audio only BD last night and must say I was not impressed, it may be my player Panny BD-85 through HDMI, tonight I may use the 7.1 analog outs of the player and see if there is a difference. To me everything seemed confusing, just a wash of sound, no cohesion and individual instument separation was awful, like I said may be my player, but not a very musical mix, this was MA mix, there are other options which I didn't try. IMO just a jumbled mix of noise. I'd like to hear other impressions. I also didn't like the new rendition of the original songs.
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As a long time zep fan and one who was waiting a long time for this to come out all I can say is very disappointing. Couldn't say it any better than you described. If it wasn't for Jason Bonham it would have been a total bummer. If you watch JB he had the time of his life. You could tell there was no other place on earth he'd rather be. Just watch him at the end. He carried the other three. I've tried listening to it with all the different options and they all sound like crap.
I also came to the conclusion it was filmed with that quick pan and scan to make the look alive. They didn't move much.
Oh well it's still LZ the best there ever was.