Most cd players cannot reach that theoretical dynamic range, and
someone correct me if I'm wrong, but almost no speakers or analogue
tape recording can either.

Actually, CDs can, or at least reach an SNR up to 106. Only problem is that
this usually requires omitting a necessary function of digital audio recording:
dithering. You can make a recording this way, but you'll have problems with
zero-bit noise.

After dithering, the SNR is about 96 decibels. But, this is still better than
what can be achieved with the best LP rigs and is done without the use of any
compression, unlike videotape AFM hi-fi. - Reinhart