+1 on streetsmart. I have a number of DVD audios, DADS and SACDs that sound just slightly better, to my ears, than their CD counterparts. I have a DVD-Audio of Carly Simon's No Secret Album (two channel 192/24) that comes nowhere near the sound quality, again to my ear, of the LP version I bought at Bebop. So, it's not all about the format because there are so many factors involved. The higher resolution discs, in my experience, even bring forth or make very clear poor recording implementations.
I have to agree that there are truly bad DVD-A and SACD recordings, especially from the earlier releases (and later mainstream releases). It seems like record companies wanted to bank on the hype, and rushed the products to the market.
Well-recorded and properly-mastered material in high resolution formats is still noticeably superior to CDs imho, when played in a revealing system. For me, many fluid-sounding systems gloss-over the sound to smooth out sonic imperfections (to the benefit of lower resolution formats), in-turn hiding the inherent advantages of high resolution formats (causing a "sameness" between formats). The delectable detail and urgency gets suppressed, though the dynamics is largely retained. This makes many otherwise pleasant-sounding systems less suitable for these formats (in terms of getting the most out of the media).
On top of this, many DAC implementations run the anti-aliasing filter too low to deliver the full spectrum available from high res formats. The reason is supposedly that those ultrasonic frequencies are inaudible anyway. It's a heresy for those who care to get those upper frequencies (whether or not they are truly audible), especially since the lower resolution data gets oversampled/upsampled anyway.