Please clear up my confusion re: meaning of "balanced" !

The Wikipedia article on balanced audio probably covers everything you're looking for. Clicking through some of the links in the article will give you more details.

The non-technical answer in audio is that a balanced connector (type XLR) uses one of the three legs for a ground wire. The only thing to know is some audio designs are a fully "balanced" ground and some are not. A fully balanced ground design lets you run long runs with adding noise to the system and are often at a higher level than the unbalanced connectors (RCA type).  

Thanks for your responses.

@russ69:

Yes-- this is the distinction that concerns me-- connecting a "fully balanced" component to one that merely has XLR connectors.  

I read the Wikipedia article, but am still unclear regarding my question about connecting the two components I mentioned. 

I guess I will have to ask the manufacturers directly. 

There are differentially balanced equipment that the circuit is fully balanced, then there are balanced equipment that uses transformers to still get a balanced connection. There are some equipment that use XLR's but don't have a balanced connection.