It's all very well going on about how great 2" tape is before it's turned into horrible 1's and 0's but the point of the exercise is to get your musical ideas in as many peoples ears as possible.
Kiwiburger explained himself well, I thought. Digital is capable of emulating Analog that has been converted back into digital, at least theoretically, providing someone can figure out the behaviour and create the program. Providing the human race survives the next 50 years this will happen, no doubt. By then no one will remember how analog 2" tape sounded in the control room before conversion, frankly no one will care.
On the whole panning law subject, I'm not convinced this will create an analog sound but I'll give it a try.