It's been a multi-tiered mess.
First, the radio stations began compressing all their content, pushing it up in volume, in order to "out-shout" other radio stations they were competing against (and of course they left an extra 3dB ceiling for the ads.)
Then the radio stations discovered that they couldn't play music which wasn't pushed, as well. Because this music would suddenly seem as if a hole in the wall of sound they created.
This probem is exacerbated by the fact that a lot of people use radio to provide a background drone (at work, leisure, etc.) Radio managers noticed that stations with dynamic content wouldn't be selected for this kind of use, because the suddenly "silent" music would make them swith to another station.
So radio stations began fiddling with the music, reducing the dynamics, to provide a WALL OF SOUND!!!
And then record producers and bands decided to do the fiddling instead of letting the radio stations do it. We're now at the ludicrous situation where a lot of people have excellent sound systems, capable of reproducing very large dynamic ranges, right in their homes - and this equipment is being used to play back music with 4-5 dB dynamic range!
If you've seen the "Sound leveling" function in iTunes, you will have seen the offshoot of this development: people are so used to all their music droning away at the same loud level, that they want their home playback to do the same. This function adjusts all the music on your harddisk to one volume level ... (sigh).
Never use it, please. There's even software around that is supposed to "improve" upon the built-in volume leveling feature in iTunes.
This animation shows you what's happened - and this is actually a fairly mild example:
link
If you're serious about your music listening, you need to be aware of this. I had the same reaction to the "Rumours" release as Alex had, but I've come to be skeptical of all "remasters" and have found that it is useful to check reviews on the net before making a purchase. Now that people have become aware of the Loudness Wars, what's been done to the music is often evaluated.
If you want to check your music, Tischmeyer Technology has given us the tools we need. They've taken a definite stance in the Loudness Wars:
link
You can download their Dynamic Range Meter, which will give you an idea as to what kind of music you are listening to. Does it have 4-5dB dynamic range, or 30+dB dynamic range?