First and foremost, do we hear a sound wave as a sum of all the individual harmonics, at the fundamental frequency, or do we hear all the associated harmonics above the fundamental frequency and construct an overall sound wave from this?
If the second point is true, than surely a digital recording that cuts off frequencies above 20kHz (due to the 44kHz sampling rate) will produce a reduced waveform to an analogue recording, which surely will not have a "cut off" frequency, therefore the recorded sound wave will be closer to the original?