Vinyl vs. top-notch digital


I have never had an analogy rig. My CD player is a Meridian 800, supposedly one of the very best digital players out there. From what I've read, it appears there is a consensus in our community that a high-quality analog rig playing a good pressing will beat a top notch digital system playing a well-recorded and mastered CD. So here are my questions:

1) How much would one have to invest in analog to easily top the sound quality of the Meridian 800 (or similar quality digital player)? (Include in this the cost of a phono-capable preamp; my "preamp" right now is a Meridian 861 digital surround processor.)

2) How variable is the quality of LPs? Are even "bad" LPs still better than CD counterparts?

Thank you for any comments and guidance you can provide.
jeff_arrington
Just enjoying these astonishingly-mellow responses. All I'd add is that "the work," involved in vinyl playback seems just a touch overstated: cleaning the record, setting it on platter and dropping need takes literally a minute. With regard to the "interruptive" necessity of turning a record over, I can report symphony orchestras often re-tune between Symphonic mov'ts, so it's a "tie" there. : ). Tics and Pops? I listen to Classical and was able to put together a pretty large collection that was oh, 98% "digitally" silent. What I've not seen vinyl enthusiasts point out is that--however incredible vinyl's reproductive capacity--the last 1/3 of records are audibly compromised.
If you can find me a turntable/cart combo that makes "O Fortuna" (of Carmina Burana) sound that same both in the opening grooves and the last grooves (the piece opens and closes with the same material), please tell me about it. Maybe a linear tracker?

Or take the spectacular closing of Boito's Mephistopheles Prelude: huge orchestra, chorus, thunder machine, pipe organ, off-stage trumpets, floor-rattling percussion, (gives me goosebumps just thinking about it); it's all just too much for those last grooves.
Yeah, and then there is the cannons. "yawn" I don't know where you live but if you can get over my way I'd be more than happy to take you up on your challenge.

This theory that there is an inherent flaw in tracking the inner grooves of vinyl is an urban legend propped up by less capable equipment and/or setup skills.

Hi-rez, that which we can reasonably purchase for our homes, still does not give me as good a presentation as vinyl.
to echo Dan's comments, i'll be glad to compare any digital hi rez format to the inner grooves on any of my classical Lps.

yes; i've owned world class linear tracker arms and they do give you some benefits. however, the better and best pivoted arms properly set up eliminate any audible inner groove distrotion. i have many reference and test tracks that happen to be in the inner grooves without ever needing to concern myself.

as far as Carmina Burana, i have 4 or 5 pressings of it....and another 3 or 4 digital examples of it. come on over and let's do the comparison.