Lexicon vs Meridian

Yeah, good choice Michaeljbrown! I've owned a few of the Act 3's..superb. Actually, if you're ready for an upgrade, I personally have the "factory upgraded" ACT 3 I need to sell, with 8ch pass, direct-in's/bypass for all analog inputs(for total purity), DPLII, adjustable crossovers, DTSneo6, and 24/192 DAC's!!!!! This thing's not only DEAD QUIET (the act 3 has a bit of noise), but has all the clarity and dynamics of the old ACT 3!!! Best sounding pre/pro around, and "never released to the public!!"

what current processor would compare to the meridian 565 z3?

I'd look at an MC-1 over a DC-2... they can be had quite reasonably and the performace differences are substantial.