As mentioned in previous thread, I receive my P3 a few days ago. My choice stopped on this preamp for many reasons. Of course, I would like to have a musical fidelity or a Classé used for the same price as the P3 new in box. But I liked the design of this preamp, the cool look, the silver esthetic that goes with the rest of my system. But it is mainly for the functions such as Balanced in AND out, Decent phono stage, remote, 2 Direct inputs (bypass all tone and balance funtion) and so on. Quite hard to find a preamp under $1k with all these features. Rotel RC-1090 is something like $1400 I think, but as I said I'll keep this one for a while and wait later for my classé. There is two things that I don't like about the P3. First, as soon as I turned it on, I noticed a fainted "hiss" in the background, only apprears when volume is turn up to the first step. When the display indicates "0", there is no sound of course, but as soon as you got to the first step (i.e. "2") that hiss appears and stays at the same level no matter where the volume is set. Of course, it is very hard to ear unless you almost put your ears next to the tweeters but from my listening position (7 ft from the speakers), I hear it. I guess that many preamps are doing the same but my Cambridge was dead quiet. It can be due to the digital volume, I don't know. After three hours of listening at low level, it can become fatiguing to the ears. When there's music at normal volume, you don't hear it, but can be heard with low levels if I stay at my listening point. Second, the volume starts from "0" anf goes up to "80" max. The first levels increments of "2" until it reaches "40. Above 40, it increase by steps of "1" after that. The drop of volume between "0" (no sound) and "2" is quite loud, like if the transition is non-linear. I send a mail to Parasound just to be sure that it's normal and the preamp is conceived like that. They answered me back, with a very professional and polite way and I knew then that they were standing behind their product. Service looks very effective. They told me that this preamp may have a fainted hiss with highly efficient speakers. The P3 replaced a Cambridge C500 so I can only compare with Cambridge as my pojt of reference, quite hard to compare with other preamps in the store, without the same speakers, amp and listening room. I have a B&K ST2140 and my speakers are Wharfedale Sapphire 88 but will change in the next year to B&W or JM Lab's. It seens that this preamp needs something like 200 hours of break-in and I just did somethjing like 20 hours now, so my review will be considering that. The bass is quite good, not deep but thight as it should be. The mid's are more extended than my Cambridge around 1 Khz. Not that much but enough to noticed that the voice of Diana Krall sounds like she's really in front of the others, like she would play right in my living room, singing for me!!! The high's are very good, not forward but mostly laid back (the way I like it) absolutely not harsh or pitched to my face. I find the high's neutral above 4 Khz. I mainly listen to Classical, Jazz, new age and movie soundtracks and I like the sound of violins and trumpets with the P3. I'll see how it will change after a couple of weeks (if there's a difference then). I really recommend this preamp, I personally love it in every way.