When Blind Guardian released A Night At The Opera, I didn't really like it. When I heard the songs played live, I totally dug them, because they were stripped down simplified versions of the songs, and far easier to listen to.
When Symphony X did The Odyssey at Prog Power, I could tell all the missing orchestrated parts, but didn't mind it at all. It just sounded different. Not worse, not less of a song, just.... LIVE.
I like well-produced albums with lots of shit going on. But, I also like live shows where all that extra stuff isn't really necessary. /snip/
I say, record the album you want your fans to hear, but when it comes to playing them live, strip them down and give the raw, core, meat-and-potatoes version of the song. Don't try to keep all the glitter and glamor of the album version.
As a funny man once said... "Don't church it up, boy, it's Dirt!"