INTERNAL LINKS

This list is the accumulated knowledge of a number of highly experienced audiophiles whose judgements I most respect and trust; though I, Arthur Salvatore, will be the final arbiter of what is both included and written below.

It is based on many decades of listening comparisons with numerous components, in many types of systems and listening rooms, plus countless modifications that regularly led to significant improvements over the stock performance.

While no one person can audition every significant component, I am confident that our group has heard the great majority of serious components from the past and we remain on a constant vigil to discover (or remember) others (new or used) that will improve on the performance of those listed and described below.

Finally, I believe that most readers miss the main point of this file (and website). The audio components that I discuss should not be the primary focus of attention, but instead they should be viewed as “actors” or “props” in an effort to describe and convey ideas, experiences and concepts that I consider important in evaluating and building an audio system. The components are necessary only so that we can share some common points of reference, bound in practical reality, or else everything on this website would only be theory and speculation.

An overwhelming amount of objective and competent observers indicate that this particular component has "outstanding" performance and is something "special" and deserving of recognition.*

*There is an authoritative precedent for this policy. It is taken from Stereophile, Issue Spring (1) 1975:

"Components are selected for listing on the basis of our own tests as well as reports in other magazines and from users." (Stereophile's own italics)

Unfortunately, audio reviews have become considerably (and continually) less reliable within the last 25 years or so, and thus have no influence within this website. The reasons for this are simple:

1. The huge increases of (and the financial dependence on) advertising revenues;
2. The growing development of "personal relationships" between "the reviewed" and "the reviewers";
3. And the accumulated, reciprocal "favors" that have now seriously compromised the formerly unbiased reporting.

In effect, most 'reviewers' have become "shills", if not outright cheerleaders, for the companies whose components they are 'reviewing'. At the very least, they are overly kind and "diplomatic" in their descriptions, analysis, comparisons and conclusions.

In short, most magazines are now "Commercial" in nature; concerned more with marketing, promoting and selling audio components, rather than objectively reporting on them for their readers.

Fortunately, there are many other sources of reliable information that are still available, especially when you have been mutually involved in a passion for more than 40 years. And now there is the Internet.

The standards of audio performance are almost always moving forward, though not nearly at the pace that the audio magazines would like you to believe. If these magazines were even 25% correct in their almost pornographic descriptions of these continual "improvements", we would have surpassed "live music" many years ago.

Some component categories (amplifiers) have improved relatively little in the last 40 years, while some others (especially phono cartridges) have made significant strides forward. Those who write, and those who believe, that real audible improvements are being made on a routine basis (monthly or quarterly-when the magazines fortuitously arrive), are indulging in pure fantasy.

Audio is now a mature industry (with the exception of digital), and no mature technology moves ahead as it did when it was just "starting". That is not possible, and no amount of hype, either through advertising or 'reviews', can change that fact.

Just like a photograph, no list of anything can always be "up-to-date", particularly this one. Some of the component categories are quite close to what would be there if every component were a known entity to our group. Other component categories, particularly Speakers, are well "behind the curve" of what is available.

Almost every exceptional component becomes known to the audio world eventually. It is the time period between "now" and "eventually" that we will attempt to minimize, but some "time gap" will always be there. That is the unavoidable nature of audio, and we ask the readers of this extensive list to allow us at least some "slack" in this regard.

Please allow me to be blunt for the sake of perspective and to prepare you for what is ahead:

1. My standards of inclusion are extremely difficult and my expectations are much higher than those of most 'reviewers'. This is due to both my 40 years of personal experience and my basic "perfectionist" and hypercritical character.

2. I have no interest in advertising contracts, "perks" and/or free "loans" with audio manufacturers. Accordingly, you will see just two, three and sometimes one (or even no!) component in the highest class, not the regular 50 or more you will see in some 'famous' lists.

3. I am not trying to sell anyone anything with this list, they are references only, so the short descriptions of the listed components will be "matter-of-fact" and a bit "dry", not the advertising copy, romantic prose or the lust inducing "audio pornography" seen elsewhere.

4. I did not create this list to become "popular". This means that the components which are famous and have "followings" are subject to the same degree of scrutiny as all the rest. I don't believe in "sacred cows". Audio components are only inanimate tools, without life, personalities or souls, and nothing more.

Finally, many of the reference components originate from small and relatively unknown manufacturers. To make things simple and clear:

We also do not disqualify or discriminate against any component because it has been discontinued. The performance of a high-quality audio component does not have to deteriorate like an aging, superstar athlete. As long as it is well maintained, it can stay in its "prime" almost forever. Discontinued components are often readily available on the used market, and usually at relatively bargain prices.

It is impossible for this or any other list to be absolutely non-biased, because we are all ultimately human. A combination of serious effort, continual self-appraisal, maximum independence and complete disclosure are the required tools to minimize the bias and maximize the accuracy and usefulness of what is written.

I, Arthur Salvatore, am the Main Contributor, sole editor and sole writer of this list but, as I diclosed within the very first paragraph above, I also receive considerable help and input from other audiophiles that I know and trust. This trust is such that a few of the References will be based on their judgement and their experiences alone. I am prepared then, in certain, specific instances, to put my own reputation within their hands.

This policy is also consistent with the fact that I have personally purchased components in the past strictly on their word. I feel that it would be inconsistent and hypocritical for me to personally benefit from this information and not share it with others.

(NOTE- I have already disclosed which of the added components I didn't personally audition. I made no such distinction, nor the disclosure, with those very few unauditioned components which were part of the original list. This change in policy means that I will rectify this situation as soon as I can.)

I feel confident with this policy and process. These are my reasons...

1. It allows me to discuss more qualified and worthy components than I ever could on my own.

2. The various "associates" I communicate with have always been very objective, critical and competent observers. Most important, they have been reliable in the past, in some cases for decades. If I feel that they have any "conflict of interest", that will disqualify them in that particular instance. If they attempt any "funny business", they will be permanently removed as an associate*.

(*By the time I began this website, I had kept only "The Cream" from almost 30 years of experience. Most audiophiles are very honest in private communications, so don't be alarmed by the word "many", it is just based on all my years, not the quality of people I've met.)

These contributing audiophiles have all informed me that they wish to remain "anonymous", so their names will be kept confidential. There are genuine and practical reasons for their request...

Most of my "sources" and "associates" are in the audio business world. They include:

1. Audio Distributors
2. Audio Manufacturers
3. Audio Retailers (with actual stores)
4. Audio "Resellers" (Informal, "moonlighting", casual)
5. Former members of the above groups, who may come back

These business people don't have the time, nor the patience, to expand on and/or defend their actual thoughts, feelings and experiences with countless audiophiles, and on an ongoing, endless basis. They realize that most of their opinions will be "benign" and rational to most people, but some opinions will be controversial and some might even enrage those hobbyists who are emotionally immature, insecure and/or fanatical about certain concepts or brands.

If that weren't enough, their business relationships with their peers could be compromised if everyone's true feeling and opinions were posted for the entire world to read*. In a few instances, they have even admitted a decided preference for a competitor's product! Imagine the reaction if this were to become "public knowledge".

Thus they prefer to remain "off the record". Based on my own continuing experiences, since this website was originally posted in October 1998, I can confirm that their concerns were and are justified. Accordingly, I feel that the "cost" of anonymity is well worth the value of the information I receive from them. Readers who feel otherwise should simply ignore the references from these anonymous sources.

*At the 2004 CES, virtually every person who gave me their direct and unqualified opinion also requested that I "keep it quiet". This even included the people who did NOT know I had this website. Their fear of offending others in the audio business was palpable.

There are also a number of highly experienced audiophiles that advise me, including some I have discovered through this website. These associates have no business conflicts, but still wish to remain anonymous. Some of these are actually Audio Reviewers*. None of these recent advisers has the influence to add or remove a component from this list, but I still feel that the information they provide me is credible enough to post as either "Furthers" or "Caveats" etc.

* I am (sadly) not interested in (or referring to) the actual posted or printed 'reviews' from this group of people. I am only interested in what they tell their friends, audio manufacturers, distributors, other reviewers etc. in private conversations or correspondence. This is almost always somewhat different from what the public will read. The majority of the audio reviewers that I receive information from are not even aware that I am the ultimate recipient of their private and confidential opinions. They call this "hearsay" evidence in legal proceedings, but it has proved to be both reliable and useful.

As I previously wrote in Vinyl Asylum on May 1, 2002: (http://www.audioasylum.com/audio/vinyl/messages/124335.html)

"My credibility, in the final analysis, will be judged by the accuracy, reliability and consistency of my (and my associates) observations and conclusions. My policy of using my trusted and anonymous associates stands. It will remain so as long as I decide that the overall benefits to the readers outweigh any potential or actual downsides."

I was also an audio retailer myself for many (20) years, but it is very important that you notice the following:

This is a fact that I leave to those who are skeptical or cynical of my choices to rationally explain away. Veteran and careful readers will also notice that no changes were made due to the event that I no longer am carrying, or not carrying, certain lines in my former store.

To further expose myself (and my associates), there is a special and unique section at the very bottom which is called CHANGES/UPDATES. This means that...

Every single change and update of a Reference Component that I make within this entire list will be registered there, including the exact month it was made. Readers won't have to second guess, or strain their minds, attempting to remember if a component was once a Reference, and if and when we changed our minds.

We have nothing to hide or fear, and that includes our previous thoughts, for better or worse. It is also meant to be an aid for veteran readers who want to know quickly if any changes were made since their last visit, and for all readers to see how components have evolved over time. Because of the inherent impermanence of the Internet, I feel this section is imperative for accountability and credibility.

For any Reference to be relevant, the reader must know what Standards and Priorities are used to earn the designation "Reference" in the first place. My sonic priorities for this list are exactly the same as I've described in my short essay My Audio Philosophy:

The first and most important priority being that the component must be able to:

The ultimate effect of this capability is that the component will sound "natural", "musical", "complex", "expressive", "intelligible", "Unpredictable", "alive" and, most of all, "complete", in contrast to sounding "mechanical", "simple", "dead" and "electronic".

This is the rarest and most elusive quality in the quest for accurate musical reproduction. Most importantly, it is my personal experience that it allows and even compels the listener to become more involved with the music and forget about the system.

The second most important sonic priority is:

This is the gut feeling and sense that there is something actually "present" and/or "alive"; As someone else has already written: "There is a 'there' there."

Whenever low-level information is combined with immediacy, the overall effect will be a primal and sustaining sense of "reality". This should be every audiophile's ultimate goal. Why is "completeness" even more important than "immediacy"?

Ultimately, it is still more "involving", in the long-term, to experience music that is complete, complex, natural, unpredictable and with "life", even when listening to it through a veil, rather than the alternative of listening to something that is "right there", when "what is there" is "dead", monotonous and "incomplete". What is the point of that?

I have found that, generally speaking, as a component's ability to allow more low-level information to be heard is enhanced, so is its sense of immediacy. This correlation is logical, since immediacy is compromised by a high noise level. This is also another reason why reproduction of low-level information is the higher priority of the two, and highest overall as well. This connection (or relationship) is not "Absolute", considering the prime example of the Martin Logan CLS, which is both super-immediate and also somewhat dry sounding.

Other audio parameters, such as "speed", "precision" and "cleanness" are somewhat less important and also much easier to attain. The reproduction of the frequency extremes, especially bass, and the recreation of a "soundstage" are also less important to me in reproducing music.

My lowest priority is the ability of a system to play "extremely loud", which I define as more than 105dB. Though in the final analysis; everything has some importance.

My choice of priorities is not just simple self-indulgence on my part. I’ve noticed numerous audiophiles reacting in a similar manner when hearing improvements in these areas. I've been around long enough in this passion to observe many audiophiles "evolve" (defined by me as an irreversible change in direction) over time in their audio priorities.

There have been some common and predictable trends:

1. The first step above "pure junk" is for more "bass and power"; with most people never "growing" any further.

2. Next comes a taste for superior midrange and high frequencies, but without losing the "bass and power". It is here that "Audiophiles are born". However, most audiophiles stop evolving at this point; being reluctant to take their main focus from "bass and power", and consequently only search for further enhancements. The most expensive and complex components are those "enhancements."

Still, the basics and fundamentals of music reproduction have now been accomplished at this stage, which means the system can now be accurately described as "High-Fidelity". This is the single most important milestone on "the journey".

3. The next step is much more difficult; replacing the past focus on "bass and power", and/or "convenience", for midrange naturalness and low-level information. This "area" is where the vast majority of musical information resides, and it's also where analog software and tube electronics excel.

It is not a mysterious coincidence that those audiophiles who end up preferring tube electronics very rarely go back to solid-state. It is also at this stage that audiophiles will make a final preference for analog over digital.

4. Finally, some of those left may decide to go to radical and extreme lengths to maximize the retrieval of low-level information and minimize the system's inherent, unnatural qualities.

This objective can only be achieved by evolving to a "minimalist" philosophy, along with the resulting components and systems. This is a long and extremely difficult process, with the added hazard that even just one "mistake" will have disastrous results to the final sound quality.

Important- For most audiophiles (and readers), my personal priorities will not "match" their priorities. Accordingly, they may prefer the reference components in the "lower" classes, or components not even in any category, to those I have placed in the highest class.

Further- I realize that the above "evolution of priorities" is overly simplistic, so I might write about this in more depth at a later date.

The only audiophiles that do not evolve like the rest of us are:

1. Most audio 'reviewers', who claim to like everything equally (at least in public), never evolve, and rarely, if ever, declare a decisive preference for anything.

2. A number of audiophile "scientists"* who don't believe that there are any real sonic differences (let alone improvements) in components, except speakers, to evolve to and/or with.

*These are the only "scientists" I know, besides anti-evolution Fundamentalists, who don't like to be surprised and also totally lack curiosity.

Yes. These priorities favor the reproduction of Acoustical Music, which is the most subtle and difficult to reproduce, meaning Classical, Jazz and Folk/Ethnic.

I have found that music which is primarily Electronic, studio oriented and/or requiring a continuously loud volume to come across, is far easier to reproduce. There are countless components from the past, and present, which will make electronic music lovers very satisfied. Thus, it should be obvious that for those audiophiles who have a different ranking of priorities than described above, this entire list may be virtually useless to them, at least for the present.

Some readers may now want to have a better understanding of what "low-level information" is and why I feel it so important to music reproduction. Fortunately, there is a simple test and demonstration that anyone can perform on any system:

Just play an excellent acoustical recording, either CD or LP, where the music has both very soft and very loud passages, at a natural volume level.
Then ask yourself this question:

Does the system still sound "just as good" at all volume levels? If it does, that system passes the test!

Any decent system can resolve the pre and post echoes that are audible on some records; mainly those that were recorded in the early days of stereo and/or those with dramatic, dynamic swings directly following relatively soft sections. (One Famous Example-The beginning of the 4th movement of Scheherazade-Reiner/RCA.)

The test involving those "echoes" is extremely simple: the more obvious the echo(es), meaning the more difficult it is to ignore and the more detailed it is, the better that component's (or system's) ability to (generally) reproduce low-level information. While this test is somewhat simplistic, because music is not directly involved, it is an easy first step as a listening exercise and for understanding the general concept.

This same test can also be used when auditioning a different component within the same system.

The challenge for this competing component is simple:

A. Does the new component allow the system to sound just as good, or even better, at a lower volume? That is the goal. Or...

B. Does the sound instead start to deteriorate at the same, or even a higher, volume? That is what you don't want.

The relative absence of low-level information is a very serious problem at all volume levels, but it is most easily noticed, and it is most degrading of the music, at softer listening levels.

This same principle applies when the volume is lowered (moderately) with the volume control. The Rule is:

However, one must be very careful at this point, because most listening rooms have a very precise, optimized, volume range. Above that range, the music becomes raucous and distorted, while below that range, the music becomes too laid back and starts to sound "dead". So the change in volume must not be large enough to trigger, in either manner, the room's own problems, or the results may be misleading.

What if the system does start to sound increasingly "dead", "dry" and "veiled" as the volume goes down naturally, or with the moderate use of the volume control?

If this occurs, there is a problem somewhere in the system.

ALWAYS keep this RULE in mind:

That is the unmistakable sign that musical information has been lost somewhere, and an unnaturally high volume is then being used as a "compensating device" by the listener, usually without even knowing it. This is the primary problem with most of the high-end systems I have heard over the years, and at all price levels.

Analogy- This is the audio equivalent of eating more "junk food" because it lacks basic nutrition.

WHAT EXACTLY IS LOW-LEVEL INFORMATION?

Or what exactly should I be listening for?

To "steal" some previous thoughts (and words) from My Audio Philosophy:

Low-level musical information encompasses the widest possible array of musical sounds;

1. The harmonics that identify instruments and enables them to sound natural or "musical";
2. The decay of the individual notes and their harmonics;
3. The subtle, instantaneous shifts of dynamics and their intensity and emphasis (also known as micro-dynamics and dynamic shading) enabling musical "expression" to be sensed, heard and felt;
4. The sense of ambience and space, allowing the listener to both hear and be "there";
5. The complexity and separation, or absence of homogenization, of all of the above, reducing "boredom" and "listener fatigue";
6. and the sense of both continuity and a continual and consistent presence, which has also been described by others as "continuousness".

It is also indispensable that all this musical information be retrieved accurately;

This allows the music to sound "natural" and appear "intelligible". This is especially relevant with speakers, which have the most problems of any component with the accurate reproduction of both musical timbres (relative level) and with relative timing (phase).

This is this musical information that, more than anything else, allows the listener to believe that the music he/she is hearing, and experiencing, is a unique and human event, rather than one that is electronic, mechanical and ultimately contrived, like if "the pod people" from the film "Invasion of the Body Snatchers" had taken over the world.

Finally, if I was to make an analogy with fine food and drink, I would describe low-level musical information as the equivalent of the "Aftertaste". Its very existence and character separate the different qualities of food and drink from each other. This is what also happens with music when its reproduction is "complete".

The term I formerly used, "noise-floor", has been in use in the audio world for a number of years now, and while I do recognize the vital importance of the underlying concept, I also felt that the choice of words ("noise-floor") was very unfortunate, because it has proved to be a confusing term for many audiophiles, even veterans.

A much better term, in my opinion, is: "Sound-Floor"

I feel this way because:

"Traditional" meaning the measurable noises (hum, thermal hiss, mechanical buzzes etc.) that emanate from all active, electronic components; such as amplifiers, preamplifiers, motors and even CD players. While loudspeakers, which are a passive component, have no "traditional noise".

In contrast, all audio components, passive AND active, including loudspeakers, have a "sound-floor". And that is not all...

So does the actual software; records, tapes and CDs, and in this instance, I am, once again, not referring to their background "hiss".

For a better or different perspective, the reader must realize that...

The key word in this expression is not "sound" or "noise", but "Floor". The word "floor", in this instance, is an indication of the "lower limit" of a particular capability of that component.

The "sound floor" (or "noise floor") can be best described as:

Put in another manner, the "sound-floor" can be described as:

Analogy- It is the audio component's (or system's) direct equivalent of the listener's ability to sense or hear "soft sounds".

A component with a high "sound-floor" will obscure and mask a large amount of audible sound (music), while a component with a very low "sound-floor" will reveal virtually everything about the sound (music). Unfortunately, "the weakest-link-in-the-chain" rule applies in this case. This means that if even one component has a high sound-floor, so must the entire system.

This is the reason why systems that have a high sound-floor will be played at a higher volume, usually without conscious awareness, in an attempt to hear what is missing.

Why do certain components have a higher or lower "sound-floor"? That is not entirely known. What is known is that components that use overly complex circuits and layouts, longer signal lengths and poor quality passive components (wire, resistors, inductors, capacitors, speaker drivers and vibrating cabinets etc.) generally have a higher "sound floor" than those components which avoid their use. Poor execution will also compromise the "sound floor".

Also, everything being equal, tube preamplifiers and power amplifiers will almost always have a lower "sound floor" than their transistor equivalents. Ironically, this is true even though their actual "noise" (hiss, hum) will usually be measurably higher. Speculation about this phenomena has focused on the greater simplicity of most tube circuits (especially single-ended-triode designs) and the fact that the actual amplification occurs in a vacuum, not silicon or some other material.

So to summarize, there are four requirements in order for a component to have an exceptionally low "sound floor":
1. A simple, though highly competent, design
2. The use of the best quality parts, both active and passive, within the component
3. The finest execution of the above, both in build quality and in close attention to (small) details
4. The shortest signal length(s) possible

If any of the four requirements are compromised, the "sound floor" will rise accordingly, and the recorded sounds (and the music) will be permanently lost. Sadly, only a few rare and outstanding components meet all the requirements. Searching for them, and hearing them, one way or the other, should be high on the list of a serious audiophile's priorities.

There is also a relationship between a system's sound-floor and listening FATIGUE.

When a system has a high sound-floor, meaning more of the musical information is missing, the listener will then (automatically) attempt to fill in "the missing parts" with his brain.

This continual effort, usually unconscious, will eventually cause "listening fatigue". The existence, and even the degree, of the fatigue is dependent on the previous experiences, and expectations, of the listener.

For example, digital recordings and sources are known to have a higher sound-floor than good analog. This is the reason why some listeners, who are used to analog, may experience fatigue with digital, despite digital's other sonic advantages over analog.

While other listeners, who are used to primarily digital recordings, do not appear to suffer the same fatigue.

Finally- The first, unavoidable and ultimate rule in high-end audio is:

Every magazine that has put together a "Reference Component List" in the past has used a different approach to classify the components. My approach is very simple; there are 3 different classes as described below. The order of the components within the classes is totally irrelevant, while the short descriptions are very relevant.

CLASS A- This is the state of the art, the best there is and ever was! Price is not a consideration. Neither is ease of use, nor the possibly considerable time and expense to locate, modify and improve the units if purchased stock. While the component must obviously be compatible with some other components, compatibility is also not a requirement.

It is these rare components that sound the most "complex" and "alive", and have the most "magic" and "completeness". Why?

In general, the components in this class have the lowest "sound-floor" within their category. These are the only components that may be accurately described as "great" (the single most overused word in audio, sports and politics today).

CLASS B- This class is the closest possible in quality to the above, but usually less expensive, and maybe more compatible. Components in this class will still be "superb", among the best ever made, but lacking the ultimate "magic" of the equipment in Class A. They may either simplify and reduce the natural complexity of the music and/or lose some "immediacy". Generally, this is because their "sound-floor" is somewhat higher.

In a few instances, these are the best available, because no component I am aware of deserves Class A at this time. Within this Class, the cost of the component, new or used, is now relevant. This means there may be other components available, with similar sonic performance, that are not listed because of their extra cost. (This is especially true of numerous contemporary components, which may be grossly overpriced.)

CLASS C- The best value; also known as the cliche, "best bang for the buck". Many, if not most, of these components will be used and/or discontinued. That’s where most of the best audio bargains are found.

Components in this category are still truly "excellent" and much better than the usual mediocrity of the past and present. The level of quality in this class is the minimum required for true "high-end" performance and they should not be confused with "Entry-level" components.

It is extremely important to remember that there are greater sonic differences among these components because they are all less accurate and revealing. The cost of the components within this class, whether new or used, is now extremely relevant.

There may be many alternative components whose sonic performance is essentially equal to those that are listed in this class, but they are disqualified because of their greater cost and/or other negative factors.

CLARIFICATION 1: Because "value" is so important within this category, it must be always kept in mind that:

Many readers, especially those living in Asia or Europe, may find many other components that are preferable "for the money" invested, particularly those components made "locally".

CLARIFICATION 2: Within a growing number of these groups you will see the headings "UPPER" and "LOWER". This is another method of making fine distinctions among components that are within the same classification. In other words; not all the Class B components within a particular category are equal.

March- Bent Audio TX-103 Silver Transformer added to Class A Moving Coil Step-Ups
March- Amber Stereo 70 added to Entry Level Amplifiers
March- ZYX CPP-1 Pre-Preamplifier added to Class B Moving Coil Step-Ups
April- ZYX UNIverse cartridge (.24mV Copper) added to Class A Cartridges
May- Wyetech Topaz 211 Monos added to Class A Amplifiers
May- Canary CA-339 moved to Class B (Upper) Amplifiers
June- ZYX R-1000 Airy 3 moved from Class A to Class B (Upper) Cartridges
September- Audio Physics removed from Class C Speakers (apparently Chief Designer left)
October- Acoustat Electrostatics added to Class C Speakers (specific models to be listed soon)
November- Conrad Johnson MV-75 (modified) added to Entry-Level Amplifiers
December- Digital Stylus Force Gauge added to Accessories

January- Behringer DCX2496 Ultradrive Pro Digital Crossover added to Accessories
February- DB Crossover removed from Accessories
March- Convergent Audio Technology (CAT) JL-1 moved from Class A to Class B (Upper) Amplifiers due to higher standards
March- Coincident Dragon 211PP added to Class A Amplifiers
March- Mark Levinson ML-2 added to Class C Amplifiers
April- Coincident M300B Frankenstein MKII added to Class A Amplifiers
April- Golden Tube 300B (Highly Modified) moved from Class A to Class B (Upper) Amplifiers due to higher standards
June- VPI HR-X "Special Edition" removed from Class A to "Interesting" Turntables due to lack of availability
July- All Phono and Line-Level Interconnects have been removed because of my lack of experience with current models
September- All Class C Digital Sources have been removed due to a price/performance breakthrough in Class B
September- Pacific Valve MHZS CD 66 & 88 CD Players added to Class B Digital Sources
September- Wyetech Topaz 211 Monos moved from Class A to Class B (Upper) Amplifiers
October- Coincident Victory II added to Class C Speakers
October- Wilson WATTS (Modified) moved from Class B to Class C Speakers
October- All references removed and updated in Digital Sources due to "2007 Fall Shootout"
October- All Class B and C references removed from Speaker Cables due to my lack of experience with current models
December- Coincident Pure Reference added to Class A Speakers
December- Coincident Super Eclipse Series removed from Speakers due to higher standards
December- Klipschorn moved from Class B to Class C Speakers due to higher standards

February- Vaic/KR VV52B (Modified) added to Class A (Lower) Amplifiers
August- Marantz SA 7S-SACD added to Class B (Upper) Digital Sources
August- Audio Aero Prestige SACD added to Class B (Upper) Digital Sources
September- Coincident Extreme Speaker Cable updated to Class A Speaker Cables
December- Krell SACD Standard Mk. II/III added to Class A (Lower) Digital Sources
December- Marantz SA 7S-SACD, Audio Aero Prestige SACD, MHZS CD 66 & 88 (Stock), Accuphase SACD/CD DP77, AMR 77 & Reimyo DAP777 all removed from Digital Sources due to a higher performance/price ratio standard

March- MSB Platinum DAC III and Reference Transport added to Class A (Lower) Digital Sources
March- Doge 8 added to Class B Preamplifiers
April- Aesthetix IO moved up to Class A (Lower) Phono Stages on reevaluation
April- Benchmark DAC & Pre 1 added to Class C Digital Sources
April- Manley Steelhead moved down to Class B "Lower" Phono Stages due to higher standards
May- Esoteric X03 SE SACD Player added to Class A Digital Sources
June- Esoteric P05/D05 Transport and DAC added to Class A Digital Sources
June- Esoteric X03, Krell Standard Mk. II/III, Doge CD6 and Benchmark DAC & Pre 1 all moved down in Digital Sources due to higher standards
June- Oracle CD 2500 MK II, ARC REF CD 7, MSB Platinum DAC III and Reference Transport and ElectroCompaniet UP SE all removed from Digital Sources due to higher standards and performance/price ratio
June- Esoteric P03/D03 Transport and DAC added to Class A (Upper) Digital Sources
August- Kuzma Stabi XL4 and Air Line Tonearm added to Class A (Upper) Turntables
October- Kuzma Air Line added to Class A Tonearms
December- Coincident Pure Reference "Extreme" added to Class A Speakers

There is no reason why audio journalists should not follow the same rules as all the other journalists. Since I could be considered a journalist myself, I feel that I too must disclose all my conflicting interests and financial transactions. I am, at once, setting a precedent and also immunizing myself from any future charges of hypocrisy.

Disclosure 1: I formerly owned a (part-time) retail store: High-End Audio Ltd. It closed in October 2001. Any unsold demonstrators, and any used components, are all listed in the "High-End Audio Ltd." part of the site. I do not own, or share in the profits of, any other audio business at this time.

Disclosure 2: I purchased all the components of "My Personal System", except for two that are currently on loan. There have been no "gifts" or "favors". While I can't disclose my actual dollars costs because of confidentiality agreements with the manufacturers, I will disclose those costs in relation to the standard wholesale prices I would normally have paid if they were purchased for my former retail store.

CLARIFICATION: "Standard Wholesale Cost" is usually 40% off the Retail List Price. So a component with a retail "list price" of $ 1,000, would normally have a "standard wholesale cost" of around $ 600.

In short, as a former audio retailer, anything less than "standard wholesale" was a "deal" for me, and may be construed as a potential "interest" or "perk". This is what I paid for the components within my personal system (year of purchase).

Forsell Air Reference Turntable/Tonearm- On loan* since 2004
ZYX UNIverse (.24mV Copper) Cartridge- traded for a used model with the distributor** (2007)
Bent Audio TX-103 Prototype Silver MC Transformer- On loan*** since 2005
Krell SACD Standark Mk II- Purchased Used (no longer available) (2008)
Marantz 10B Tuner- Purchased Used (no longer available) (2000)
Jadis JP-80 Preamplifier- Standard wholesale cost (1989)
Mitchell Cotter Noise Filter Buffer- Standard wholesale cost (1981)
Behringer DCX2496 Digital Crossover- Standard Retail cost (2006)
Coincident M300B Frankenstein MKII Amplifiers- Purchased in packaged deal for 30.42% below standard retail cost**** (2006)
Coincident Dragon 211PP (Subwoofer) Amplifiers- Purchased in packaged deal for 30.42% below standard retail cost**** (2006)
Coincident Pure Reference Extreme Speakers- Approximately 11.5% less than standard wholesale (2009)
Polk Speaker Cables- Purchased Used (no longer available) (1980's)
Coincident Extreme Speaker cables- Standard wholesale cost (2008)
Coincident Extreme Bass Speaker Cables- Standard wholesale cost (2007)
Ars Acoustica Interconnects/Prototypes- Standard wholesale cost (if they become available) (2003)
Coincident Power Cords- Standard wholesale cost (2001/3)

* The Forsell, now long discontinued, is on loan from a close personal friend. It is planned to be returned to him in 2009.
** Two to three thousand dollars worth of ultra rare and sealed records: London "Bluebacks" (Argenta), RCA "Shaded Dogs", "TAS" etc.
*** The prototype, and now discontinued, Bent Audio Silver Transformer is on loan from Bent Audio.
**** Coincident Victory II speakers were also in the "package". The owner of Coincident, Israel Blume, is a close personal friend.

AUDIO CRITIQUE

THE RECENT FILE

The Supreme Recordings

My Audio System

Modifications

Reviewing the Reviewers

My Audio Philosophy

COPYRIGHT 1999-2009 ARTHUR SALVATORE