Found this on wiki, I think it pretty much sums it up:
An audiophile, from Latin audio[1] "I hear" and Greek philos[2] "loving," is a person, who typically listens to music on high-end audio electronics.
Audiophiles try to listen to music at a quality level that is as close to the original performance as possible. They use high-fidelity components to try to attain these goals. Many are music lovers who are passionate about high-quality music reproduction. DIY audio enthusiasts build their own equipment, especially loudspeakers.
Audiophile values may be applied at all stages of music reproduction: the initial audio recording, the production process, and the playback, which is usually in a home setting. High-end audio refers to expensive, high-quality, or esoteric products and practices used in the reproduction of music. Electronic gear used by audiophiles is typically sold at specialist shops. Prices range from not much more than mass market electronics to astronomical heights: high-end audio systems can easily cost more than a new automobile and in extreme cases can be hundreds of thousands of dollars. Most of this gear is produced by companies that specialize in high-end gear, although some also produce equipment used by audio professionals such as by recording studios.
Audiophile magazines include Hi-Fi News, Hi-Fi Choice, Hi-Fi World, and What Hi-Fi? Sound and Vision in the United Kingdom as well as Stereophile and The Absolute Sound in the United States. Hobbyist audio societies also exist: Stereophile's website has a list of such groups in the United States.[3]
Audiophiles can purchase special recordings made with extra attention to sound quality; some companies specialize in re-issuing recordings for this purpose. Many audiophiles[weasel words] feel that vinyl records sound better than compact discs (CDs), and audiophile records are often remastered and pressed on extra-heavy virgin vinyl – 180g or 200g. Audiophiles also collect recordings in the high-resolution formats such as Super Audio CD or DVD-Audio.
http://en.wikipedia.org/wiki/Audiophiles
An audiophile, from Latin audio[1] "I hear" and Greek philos[2] "loving," is a person, who typically listens to music on high-end audio electronics.
Audiophiles try to listen to music at a quality level that is as close to the original performance as possible. They use high-fidelity components to try to attain these goals. Many are music lovers who are passionate about high-quality music reproduction. DIY audio enthusiasts build their own equipment, especially loudspeakers.
Audiophile values may be applied at all stages of music reproduction: the initial audio recording, the production process, and the playback, which is usually in a home setting. High-end audio refers to expensive, high-quality, or esoteric products and practices used in the reproduction of music. Electronic gear used by audiophiles is typically sold at specialist shops. Prices range from not much more than mass market electronics to astronomical heights: high-end audio systems can easily cost more than a new automobile and in extreme cases can be hundreds of thousands of dollars. Most of this gear is produced by companies that specialize in high-end gear, although some also produce equipment used by audio professionals such as by recording studios.
Audiophile magazines include Hi-Fi News, Hi-Fi Choice, Hi-Fi World, and What Hi-Fi? Sound and Vision in the United Kingdom as well as Stereophile and The Absolute Sound in the United States. Hobbyist audio societies also exist: Stereophile's website has a list of such groups in the United States.[3]
Audiophiles can purchase special recordings made with extra attention to sound quality; some companies specialize in re-issuing recordings for this purpose. Many audiophiles[weasel words] feel that vinyl records sound better than compact discs (CDs), and audiophile records are often remastered and pressed on extra-heavy virgin vinyl – 180g or 200g. Audiophiles also collect recordings in the high-resolution formats such as Super Audio CD or DVD-Audio.
http://en.wikipedia.org/wiki/Audiophiles