Stacey,
Very interesting point, having never played in a band I have never considered this view point or should I say listening point!
Being very very simplistic here and I have no knowledge at all on how recording of live performances are made. Would it not be a good idea to have an array of speakers, say six to record the performance?
I think the problem that I have with the multi channel stuff that I have heard to date is that you are not so much sitting in the middle if the band, but have it flying around you!
Martin.