IMO several issues are important to the question of whether high-resolution recording deliverables (such as SACD and Blu-ray) have better quality audio.
What is the provenance of the recording(s) you are considering? Garbage-in / garbage-out. An old poor-quality recording won’t be magically improved by delivering it on an SACD disc. (OTOH, if the original recording was high quality analog, then remastering the recording from the original analog tapes into hi-res digital - and delivering it in a hi-res digital format (e.g., SACD, Pure Audio Blu-ray, 24bit/192kHz download, DSD download) - can result in an improvement compared with an early poor quality digital mastering delivered on CD.)
What types of music do you listen to? Some music was performed live, in its intended venue, by natural instruments – with no electronics involved (i.e., no sound reinforcement system). We therefore have a benchmark for what the performance should sound like. Classical music is an example. (We know what violins and trumpets sound like - bearing in mind that different symphony halls have different acoustics.) New performances of classical music are routinely captured and offered in hi-res formats.
OTOH, some music was cobbled together by engineers and producers from multiple different musicians performing at different times, in different studios, with synthesizer sounds mixed in, and then in some cases the sound was deliberately distorted and compressed. What is the benchmark for this latter type of music, and what is the meaning of “high fidelity” reproduction?
The genre of music also affects whether or not video is an important part of the in-home experience. For example, video is essential for ballet. Video greatly enhances the enjoyment of opera. (Some opera aficionados are content with audio only. Others want to see the acting.) For classical concerts, video is nice to have. With a modern high quality Blu-ray – including 5.1 DTS-HD Master Audio and HD video – it can be almost like being in the symphony hall or opera house – with the added benefit of close-ups of soloists. (Of course, larger scale compositions are more difficult to reproduce.)
What is your goal for your hi-fi system? Have reproduced music sound good? (Nothing wrong with that.) Have reproduced music sound like what you remember hearing when listening to natural instruments performing live?
Only you can decide what you can and can’t hear, and what you enjoy, based on the music you like, based on your ears and brain, your hi-fi system, your room, your personal preferences, etc.
If you like music performed by natural instruments, and you attend live concerts of music performed by natural instruments where no electronics are involved, and you therefore have a benchmark, then I suggest getting a high-quality modern recording that was captured in hi-res (DSD or 24bit/192kHz), and delivered in hi-res, and listen for yourself.
IME modern SACD, Blu-ray, Pure Audio Blu-ray, Ultra HD Blu-ray, and 24bit/192kHz (or DSD) downloads of classical music are capable of excellent sound quality – the best recordings I’ve heard – if the recording is top quality.
IME, if you have a large room, and the main speakers must be relatively far apart, multi-channel is beneficial. And I think hi-res audio/video (Blu-ray and Ultra HD Blu-ray) is a great way to enjoy music (and is essential for genre such as ballet).
Bottom line, I suggest that you get a player capable of playing all formats: CD, SACD, Blu-ray, Pure Audio Blu-ray, Ultra HD Blu-ray, and hi-res downloads (24bit/192kHz PCM and DSD). That way you’ll have maximum flexibility in buying top quality recordings. In contrast, with a player only capable of playing CDs, you’re limited to what 30+ year-old digital storage technology can do. For the music that I like (classical music, opera, and ballet) there are many ways to enjoy recorded music that a CD player can’t deliver (e.g., hi-res, multi-channel, audio/video). But it really comes down to getting a player that supports all of the available recorded music formats for the music that you like.
And, of course, the quality of the circuitry in the player (and DAC – whether inboard or outboard) matters. Comparing a bottom-of-the-line SACD (or Blu-ray) player with a top-of-the-line CD player won’t provide a meaningful assessment of the potential of the SACD (or Blu-ray) format.
Will you hear a difference in hi-res? You’ll have to try it and report back to us.