Since I don't really have a HT, yet, I would still say no. About 5-6 years ago I noticed that recently built theaters or ones which had converted their sound systems had the bottom and upper midrange EQ'd up quite a bit. Pictures seemed to be a little fuzzer too unless you sat pretty close to the center seats. It got so bad during one movie (felt like someone was drilling a hole through our eardrums) we ended up leaving. We have only gone to see one movie since then.
I have been to a couple of my friends HT set-ups and they are better than what I remember at the local theatures.
We don't miss the unruly folks who want to be rude.
However, the thing I miss most is the social audience encounter and reaction during certain movies (horror movies). It just isn't the same when there is only a handful of people all screaming or going oooooooh! verses a theater almost full of people.
I have been to a couple of IMAX shows and they are marvelous for their picture and sound quality.