Oh, it sounds plenty realistic. There is bass where there should be bass, and no bass where there is none. Level is matched to my bookshelf speakers (to be upgraded soon). It's just that I can hear the bass, but can't feel any. But I already realize that it's the way I listen to stuff. I want the dialogue in movies to be realistic, so it sounds like a person is talking at some distance and not right in your ear. But the downside to this approach, the way things are mixed, is that when a rocket takes off or there is a gunshot, the sound is realistic, but the level isn't.
Thanks to everyone that answered. I think I understand the general consensus.