What you described sounds to me like most of the bass and treble frequencies got lost in the recording.

Well, I don't think so. I know a lot of the recorded songs pretty well and what should be the bass seems to be there, it is just higher in the range so that in my jeep (scary that it is the best listening environment I have) the bass is heard through my mids rather than felt through the subs.

tt could be room resonance - that gives a boomy appearance to the sound despite there not being any real bass in the music

That sounds like a pretty accurate description.

A decent EQ, HW or SW should be able to make it much more listenable

Yep, just running it through a software eq and starting to cut requencies below about 640hz and then normalizing the result seems to help a lot. I haven't listened to the result through real speakers yet though.

Got a sample?

See my response to Tony above.

Thanks,
-Mike