Compression is generally part of the mixing or mastering process (often both). I can't blame most artists for doing whatever it takes to appeal to the iPod generation - I would be doing the same thing myself. However, there are still plenty of good recordings being put out, though they aren't the easiest to find. The latest Lindsey Buckingham album is a good example; it was recorded, mixed, and mastered on analog tape with no compression. The CD version sounds great, but the vinyl is divine and his virtuosity on the guitar is readily evident.
In your example of the latest Metallica release, try to get your hands on the Guitar Hero version of the album - it is uncompressed. That's right, the version made for the video game is better for audiophile level equipment. Why? Likely they didn't spend the time and money on mixing/mastering for that version than on the commercial release.
In your example of the latest Metallica release, try to get your hands on the Guitar Hero version of the album - it is uncompressed. That's right, the version made for the video game is better for audiophile level equipment. Why? Likely they didn't spend the time and money on mixing/mastering for that version than on the commercial release.