How important is it for you to attain a holographic image?

On a competent system you can hear the space of the venue of the recording in terms of three dimensions and reverberant decay and echos, that sort of thing. Assuming it was recorded live in a good hall, like say Boston or Chicago or Vienna or Berlin. So in that sense, in terms of a real soundstage, the recording on a good system might be more accurate and revealing than many seats in the hall. Look at the LP or the CD as an archaeological site that requires work in order to extract all the glorious details including soundstage parameters.

Geoff, well said.

Okay, when it comes to "sound staging," what can we expect from mono recordings? 

I have collected hundreds of mono jazz records from the early 50s. I can honestly say that when listening to the best of them, I could care less about a stereo effect. With the best mono's, the sound is expansive and fills the space between the speakers completely. Granted, there's nothing outside the speakers, but there's a certain "rightness" or "correctness" garnered from mono recordings that's really hard to get from stereo records. Personally, I like both. 

Frank

Which is why, for me, the imaging thing is a parlor trick inside a parlor trick. The first parlor trick being stereo and the second being imaging. But more power to those that appreciate these effects. Were all paying good money and should get what makes us engage with the music.