Smooth Interpolation is enabled by default because in the majority of cases imported image maps will be scaled up and will simply get pixelated when enlarged. Interpolation gives a smoother and generally more pleasing result. In this case I'm not certain why it's causing a loss of intrinsic image detail, but if you're using spherical projection onto the Background Shader you might try Through Camera instead and see if it helps. Seeing comparison images with and without interpolation would be interesting as well for this particular case.
- Oshyan