Just to keep the thread moving... I have actually built my bedroom system *around* a pair of these little amps, because of their combination of price, awesome sound and small size. If you use speakers >= 89db, you can get very good volume (my refoamed/sealed cab Boston A60s rock very nicely at 89db), though to really air it out, I would look for a little bit higher efficiency.
I have NOS '74 Sylvania tubes in them, and plan to do the 47uf Auricap upgrade at some point in the near future. These are great-sounding amps, don't let the price dissuade you.
My main rig is Rogue M120 monblocks with Svetlana KT88 tubes (120w per-side) with 104db efficient Klipsch La Scala (pros, larger bass driver)... and I still find much of the same magic in the Waves. They both have the liquidity and intoxicating tonality and involvement that tubes deliver, and I love them both for the punchiness of the push-pull design (I tried the Rogue M120s in Triode, and while the top-end was as sweet as any sound I've heard, the bass was just too shy for me to leave them there.)
I have interconnects costing more than twice as much that I would let go in a heartbeat compared to these amps.
