Yup - and to be fair, there were, especially earlier on, some CDs that were mastered beautifully, and sound just fantastic on a half decent setup (no crazy stuff... just decent speakes and a plain old amp). I recall hearing some Pink Floyd at a friends place and saying "Holy crap! What are you listening to? That's an amazing recording" and he pops out a CD, from a regular old CD player and his homebuilt heathkit amp, and a pair of speakers that looked like he picked them up back in the 70s.... point being, the dynamic range was there.

You can generally tell it's there when you put the CD in your car and say "Hey that's too quiet"... that's a good candidate for some more serious listening.