I know of no studies (AES papers etc.) that directly address this.
Most music surround mixes tend to feature a Studio presentation - an immersive, non-realistic sonic image. One of the first surround music releases, the Eagles Hell Freezes Over, is to my ears a studio presentaion (more like the on-stage perspective you propose) even though it was acquired from a live performance.
One example of two different perspectives you can listen to is the Talking Heads movie Stop Making Sense on DVD. It features two independent mixes, Stage and Studio (I believe they are called this), from somewhat different perspectives.
