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In a word "No."
The A-to-D and D-to-A converters still suck, they all need significant improvement.
This is where the biggest weakness is--- in the 'verters.
The next biggest weakness are in the formats.
All the DAW sogtware can stand much improvement as well.
So in answer to your question, "We ain't 'THERE,' at least not yet."
We need more applied science, more experiments, more R and D all using a "Multi-Disciplinary Approach."
OTOH, maybe some guy working all alone in his basement will find the golden key that solves all the sound quality problems with digital.
YMMV.
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