If you want a 3D audio experience, it's possible to do that with just two microphones and a dummy head model [1]. Then you just play back the recording with earbuds. It's pretty fascinating that something so simple works, but you can only listen from the position where the recording was taken.
I guess if you record using one of those complicated mic arrays, it may be possible to simulate the effect of your pinnae in software, allowing you to move around in a virtual environment, and hear the 3D audio from different points?