My other thought was that perhaps in this day and age of "home theater" that those things just aren't that important any more. Stereophonics, once upon a time, were owned by people who cared about music, who wanted their equipment a step above. By that I mean not everyone owned components, they owned all-in-one systems. Some owned giant consoles that housed the turntable and radio and speakers all in one cabinet. Or they owned small turntable/radio combos with small separate bookshelf speakers.
But the ones who owned the components, receivers, integrated amps, etc., we cared about S/N ratios, THD, wow and flutter numbers. We were numbers geeks and I still recall arguments with a friend who had a Technics receiver that had 0.04% distortion. That 0.01% mattered. And manufacterers were publishing those numbers and bragging about those numbers because they knew we cared.
Now, I'm wondering, what with home theater, if the emphasis hasn't shifted and now what matters most is number of channels, number of watts, and most importantly, the number of inputs and outputs.
It could be, like you said, that those numbers under a certain point are meaningless, but I also wonder if it might just be different generations caring about different things. We were geeks about it and today's people aren't.