Binaural recordings are certainly one step closer to being in the room with the band, so to speak. You can get nearly as good an effect by applying filters to each of the stereo channels to spatialize them. In fact, you can easily (well, sort of easily) do this yourself. Get the filters by googling for "MIT HRTF", write some code to convolve your stereo files with the filters, and there you go. You will also have to learn some DSP along the way.
MIT has a publicly available set of HRTFs (Head-related Transfer Functions) that are an approximation of the effect that the head has on a sound traveling toward the ears. You can simulate the left channel at a point 5 meters to the left of your head, for example, and the right channel 5 meters to your right.
What would be really cool (and useful) is to set up software to decode a Dolby Digital 5.1 stream, and spatialize each of the channels in the appropriate place so you could do realistic surround sound over headphones. Actually, now that I think about it, I'm sure that this already exists.
Anyway, cool recordings.