I had both these preamps many years ago. I tend to agree with Stereophile's comments when they reviewed the T2 and toward the end of the review compared the T2 with the ML38S. The T2 is much warmer, richer with fuller bass. The ML38S is faster has more detail and resolution. However, in comparison to some other high end preamps (like Pass Labs X-1) neither would be considered as having extremely high resolution if that is important to you. I also found the remote volume control on the T2 crude (with clicking sounds as it changes) compared to the ML38S, which to this day ranks as one of the most sophisticated and refined.