The problem with claiming that using completely inaccurate sounds for car chases, space and firearms is for "story" is that the audience is not stupid. Having a car shift gears 18 times in an inaccurate manner, with respect to what's on the screen, is incredibly distracting and "takes me out of the movie." When I see this, I automatically feel like the film makers believe I'm too stupid to understand when a car would actually need to shift gears. Space is a little different, because a lot of people don't realize sound doesn't travel in the vacuum of space. Why? Because film makers lie in order to make things more "exciting." *coughMichaelBaycough* And, I don't buy the idea about microphone sensitivity, and that guns actually do make those sounds when handled, because I can shake mine right next to my ear, and it doesn't rattle at all.
Don't assume your audience is stupid. Ever! Or we will stop giving you money, because we don't enjoy paying for the privilege of being insulted.