Wouldn't it be better, if possible, to tweak the default levels in the sound chips "by ear", using our suggestions and the OST as some sort of guideline, instead of just keeping levels that we proved to be wrong?
It wouldn't be objective or completely accurate emulation, but it would definitely be more faithful to the original than the current state.
This isn't even a request, just a suggestion. I'm in the same boat as uKER, as I already found a solution for myself, but it bugs me to know that people are experiencing the game with its awesome music destroyed like this.