Instruments recorded on their own independent multitrack magnetic tape and then put on a vinyl master disc are the very best format we have reached,
I agree with the first point you made, but the above one is debatable.
Depending on the kind of music you like, perhaps the 'best' sound is live sound. For instance, if you like Gregorian chant (as I do) go to hear great singers performing in a beautifully reverberant church space. No recording will match that sonic experience.
In your opinion what would you consider is the best format to hear recorded sound?
I agree, going to see/hear a live performance is probably the best way to listen to music but that's not a recorded format, its live. :-)