very interesting post, Matt. I agree that layering is very important. It was done way before Brian May though, back in the days of "The Planets" by Gustav Holst. I belive it is movement IV, "Jupiter" where every instrument in the entire orchestra has the same dynamic marking. What happens is one or two strings begin, then the section, then other sections, until the entire orchestra is playing, and vice versa. The volume increases from the audience's perspective but it's not by individual players it's by the addition and removal of instruments (or layers).

I think the main reason Dynamics are so absent in modern music is because of compression. We loose a lot when we compress, particularly in the studio. But even on stage, I know a lot of guitarists who use compression pedals to lengthen their sustain. Is that really the best way? I prefer using vibrato, myself. Or I might open my wah pedal slightly and use the sonic "sweet spots" of a stage. Compression in the studio can be a very good thing for bringing up softer nuances, but then, isn't that the point of dynamics?