The N64 was just as capable of producing the same quality sounds as PS1, but the cartridge format doesn't allow as much room for audio streaming. So you would usually see games making use of the sound hardware, which also happened to be shared with the graphics hardware. So you ended up having to choose between sacrificing sound or visuals for the system to excel at the opposite.
With all that pointed out this is my favourite N64 track: http://www.youtube.com/watch?v=j4VEod2_Z6o










