I think I might prefer the recorded sound. I think Metheny might too.
This gets to the question of what motivates a player. Because players don't spend most of their time LISTENING to their tone. They spend the time USING it. For me, the "best" guitar tone is the one that inspires me to play my best. What it actually sounds like to an objective observer is second priority--if I get off on the sound, the tone is doing its job. Everyone may not agree with that perspective, but I think many do.
This is why great players want to work with great engineers. They're not thinking "my tone is perfect, YOU just have to capture it." Most guitarists aren't that arrogant. I think most are thinking, "my tone is great, but I want YOU to make it even better."
Eddie Van Halen was a brilliant player, and he sounded amazing live. But I have NEVER heard a bootleg where the TONE was as good as on VH I. Donn Landee and Ted Templeman and others did more than capture his tone. They captured the ESSENCE of what he was doing musically.
And this is also where good producers know when to lay off. I've had that experience before in the studio where I like the tone I'm getting "in the room," and the producer says it sounds bassy. He comes in and tweaks a few knobs, likes the tone better in the control room, but I complain I don't like the sound anymore. A smart producer goes back to what the player likes and fixes it with microphone position or eq or whatever in the mix.
I think the ultimate goal of gear is to inspire performance. So if a 4x12 cabinet aimed at the back of your legs inspires you, that's the right solution for you. I just relate to many here who have gone that route, and never fully bonded with that sound onstage. My best experiences with 100 watt heads into 4x12 cabinets have been monitoring in the control room, where what I'm hearing is a microphone or two (and probably some rumbling through the wall..)