Since this was our very first cruise, I can't really compare it to what it was like with a live band. I can say that given a choice I would rather have live music any day.
The music they played at the sailaway was so loud my parents (in their early 70's) couldn't stand it. Frankly, it was loud for my taste, too. We ended up on one of the aft decks for some peace and quiet. Maybe I didn't hear the horn over the music??
We didn't make it to any of the clubs, either. Well, DH and brother went to Diversions to watch the World Series one night, but obviously no music playing then.
I guess my opinion would be that live music would have enhanced the experience.