I was never a big fan of this disc myself. I much prefer the studio stuff as well- the overlong soloing is exhaustive, and the boring surround mix doesn't make it any better. As stated above, it's basically the band upfront, with Page across the entire right side (??), and echo/crowd in the rear. There are a few interesting surround flourishes, such the guitar bouncing from speaker to speaker in "What Is And What Should Never Be" and "Dazed And Confused", but it's too little too late.
If you look at any track from this disc visually, the first things you'll notice is that the front channels are clipped and the center channel is too low. So, I promptly dropped the entire thing 5 dB and then raised the center 10 dB.
"Heartbreaker" (Original):
"Heartbreaker" (-10 dB All Channels, then Center +10dB):
Now I could've just stopped there, but I noticed an opportunity for a bit of "revisionism", if you will, on this particular track. From about 2:00 to 5:00, all that's happening is a guitar solo along the right side and some crowd noise. It's essentially double stereo with different crowd mics placed front and rear.
It occurred to me that you could just diagonally swap channels and firmly plant (no pun intended) Page's guitar in the front or the rear. Being the surround nut I am, I decided to throw the whole thing in the rear. It sounds surprisingly decent, likely because there is enough cross-channel blending to cover up the crude cut/paste.
So to summarize, from roughly 2:00-5:00, I swapped the audio in right front with than of left rear. I then matched the levels of my new front and rear pairs.
"Heartbreaker" (FR & RL swapped from 2:00-5:00, then RR +2 dB, FL -2 dB):
Again, I totally could've stopped there, but no. I'm having too much fun!
I noticed there are small breaks in Page's soloing, which if exploited carefully, could be used to break it apart and assign different passages to different speakers. Everyone loves a little channel-hopping guitar, no?
It would take too long to explain every channel swap and adjustment I did here, so I'll just post a pic below. Basically, I made a track marker every time the guitar stops, and then kept swapping channels back and forth so the guitar does a fun call & response from front to rear. I also added some careful volume boosts and reductions to make it flow more seamlessly.
"Heartbreaker" (with channel-hopping guitar solo):
From about 4:22 to 4:27, Page does this very fast stop-and-start descending guitar work that I took and swirled clockwise around the room. This was done with a combination of front/rear channel swaps and timed volume boosts.
Anyway, it was a good 15-20 minutes of work and the results are, in my opinion, quite a bit more fun than the original disc. If you're into this sort of thing and have some time to kill, it's worth a try. My next move is to see if some similar cut/paste panning trickery can be done on Bonham's drum solo in "Moby Dick"...