Mike, Ref 2 Mk1( not the Mk2) is a definate over the LS 25. If you do a search here you will inevitably find many, many such comments and opinions... and all good ARC members say...Amen!
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With the Ref2 MkII you can tube roll the rectifier (5AR4) and power regulator (6L6GC) tube. I haven't tried swapping tubes on my unit yet as the stock tubes sound quite good.
I also don't find the Ref2 MkII "bright" per se but it is quite precise and 'neutral'. It seems to get out of the way of the signal and yet imparts a pleasing flow and musicality. I've heard the LS2B and LS5 MkII; these older units do exhibit more traditional tube bloom and warmth.