i agree and disagree music today is overly compressed dynamicaly. i have some old tracks from Dio and Hammerfall (80's power metal bands) and they sound like they came right off vinyl, one thing i notice with vinyl is it lacks in deep, dynamic bass and really crisp highs (harmonics and airiness above 16khz), CD's can carry full range bass and super crisp highs, but many of them if you load the tracks into an audio editing program and look at the waveform, you can see that the entire thing just misses the clipping point by a millimeter, now not all of it is like this, but many mainstream songs are. this destroys dynamics and real feeling of the instruments ability to change in loudness. one annoying thing i have noticed from this is that when im listening to something involving alot of double bass drums, sure i get great dynamics when ONLY the drums are playing, once the guitars come in, the bass drums get drowned out in dynamics. here is a good example of well done dynamic range compression in music. none of the instruments are drowned out by one another and it all seems to flow smoothly.
here is what the waveform of a vinyl to digital transfer looks like.
and here is a modern day master from 2009
the difference is, there is absolutley no headroom in the signal, and the vinyl transfer lacks below 60hz. the lack of 60hz is not the cause of the extra headroom in the signal either because if you remove all frequencies below 60hz, you still have little headroom.
i think dynamic range compression is a good thing, when done correctly, problem is it is often not done correctly and ends up with having an overdriven signal not capable of good dynamics.