I agree Staz.
The whole talk touches on so many aspect of sound, sound recording and sound playback that it has become, imho, a too wide a topic.
On of his claims is that in order to reproduce the scope of human hearing, you’d need 24-bit 96KHz resolution. So that makes CD-quality already sub-par. So anything derived from CDs by definition is the same or worse, ergo not good enough.
What he doesn’t address in his talk and which is an essential part of our hearing is psycho-acoustics, i.e. the capability of our ears-brain combination to fill in the blanks (amongst other things).
I could easily let this run into a 4-pager and still not have said my piece on the entire topic. Needless to say that I think any DJ should focus on music selection first, DJ skills second, buy good quality original tracks from reputable sources third and only then start thinking about sound quality (i.e. gear issues).
Like Phil said, a good DJ on a not so good sound system will build a party that makes people happy. A bad DJ on a great PA will not have much success.