Hey, no postin' without votin'!
BTW, feelings are what this topic is about. I think MC has the potential to sound much more realistic, but there's not a lot of solid evidence out there. Most people here realize that Bell Labs determined decades ago that 2 channels isn't sufficient, but we're largely blazing a trail thru the wilderness with MC. If you want to stick to facts alone this will be a pretty short conversation.
Besides, this isn't a matter of weights and measures- it's a pretty complicated psychoacoustic issue, and there likely will be no measure of what's "realistic". How would you ever measure such a thing? And what's realistic for pop or electronic music that has no "real" acoustic counterpart in the "real world"? For many genres of music "better" will simply mean "better to me."
A good example is Porcupine Tree's superb DVD-A release, "In Absentia." There are a lot of creepy atmospheric sounds that really couldn't be judged by how "realistic" they are. I suspect the point was more to make your the hairs on the back of your neck stand up than recreate reality. Fidelity on one level can be defined by how well a system reproduces what's on the recording, or how closely the recording captures a live event. But when the "event" doesn't exist in a live setting, then the recording is part of the artifice.
I believe that MC will result in a more believable illusion of a live event, but expecting only that is shortsighted. Some of the most exciting recordings to me are from bands like The Flaming Lips or Pink Floyd. I look forward to hearing what bands like The Hunger, God Lives Underwater, Dead or Alive and Built To Spill will do with the technology. In that sense I'm interested in how the creative envelope can be expanded with MC, not just the illusion of greater realism.