I demo'ed one in my home some time ago. I thought it cheap build quality, a bit gawdy looking, and very subdued sonically and dynamically to say the very least.
I own the 4.6 and it matches well with my Classe power amp. Warm, huge soundstage with tremendous, groundbreaking low-end extension. Vocals have a more harmonic signature that can't be matched IMHO. Again I'm refering to the 4.6, a step up from the 4.5. I'm surprised Stenho feels the build quality is poor, the EC is built like a tank.
I've had one for years as the main preamp in my Stereo setup.
MBL 101E speakers -> 2x mcintosh mc2301 monoblocks -> electrocompaniet 4.5 (balanced)
It sounds great, although i'm selling my 4.5 and my mc2301s now in favor of MBLs new amps.
I'm not sure what Stenho refers to when he mentions poor buildquality, the thing is built like a tank, *solid* brass knobs and buttons and the chassis alone weighs a ton.