The CAT is the most un-collered pre-amp on market, it has one of the best phono section available, very un-collered. The preamp can change sound signiture bassed on tubes in unit, factory tubes sound hard, if replace with NOS tubes unit can sound warm and romantic or very detailed, depending on soun preference. The new unit Ultimate is better than MKIII, but not at the price differential. You can buy used MKIII for around $2700, great deal.