Based on experience, I would say that the most critical part of that chain is the recording technique and quality, followed closely by the audio reproduction. To get the most amazing, lifelike experience you are seeking, however, (and in my opinion) you would most likely need to be using high quality headphones and a similarly high quality recording made using the binaural mic technique. This technique mimics how sound waves travel around your head and into your ears. A good binaural recording will shine only when you listen with headphones, don't even bother trying with speakers. If you've never heard it before, it will probably shock you.