I agree, the recording quality is not all that great. And for some reason, the Guiness Encyclopedia of Popular Music said and I quote, "[Pulse is a] perfectly recorded live album." But then again, they put that Gilmour was born in '44 instead of '46, and they printed "Obscured by Clouds" as "Obscured by CLOWNS." Seriously.
(Also, I think the well-reputed {for some reason} live version of "Dark Side of the Moon" sounds feverish and gritty, certainly not reflecting the mood and theme of the set.