The ML 39 is upgradeable to the 390s, which sounds audibly better. We've talked about this on other threads.
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the EMC 24/192 is considerably better sounding than the 39.
However, if you're talking about the 390S (current model or 39 can be upgraded), now you've got a much closer comparison sonically. The 390S (or 39) of course have feature advantages (built in pre-amp with volume and balance, phase inversion, digital inputs and outputs, etc.).