So there's that old questionay--if you had to lose your sight or your hearing, which would you choose? I always choose to lose my sight. Apparently hearing impaired people get quite depressed because they feel cut off from people, so that's something; but of course my main consideration has always been Losing Music.
I know someone who doesn't listen to music, because she's always making up her own music in her head, so the stuff out loud just competes with her head music and it gets all noisy. Maybe someone like that could handle the whole Hearing Impairation. But I'm no composer, I have zero originality in that area; I depend on the artists to bring it to me.
There's lots of nice sights that one would miss, but... in general I think Seeing Things are easier to replace. Getting around town, buildings etc. would be the biggest hindrance for me. But I could still write, and I could still read, and I could still have long conversations with my friends, and those are three of my principal joys cause I'm not a very visual person. (You could ask me the colour of any of my friends' eyes--I have no idea.)
But you just can't replace music. I'm reading the Aerosmith biography right now, and Steven Tyler (who spent his childhood sitting under a piano... when he wasn't skinning animals) argues that music delivers a bigger emotional punch than any other art form. For me, that's true. I think that's exactly what a soundtrack is for in a movie--to simulate emotion. You're being informed: This is how this character feels mourning his wife / or falling in love / or making the touchdown.
Then again... no more pretty boys to look at.
That would suck. :-p