S7horton & Bob Reynolds,
There are some quiddities with pseudo-balanced designs that compromise rather than take the "full-balanced" approach. For example, like Bob I also use transformers in my CDP (Sony SCD-1) to create a balanced signal. The stock SCD-1 is a strange beast-- particularly for a statement product-- insofar as it has fully differentially balanced DAC, but converts to single-ended in the analog gain stage, and back again to balanced using an op-amp based module at the XLR output. This is doubtless a compromise to cut costs in the analog stage, while adding additional electronics that degrade sonics. A passive step-up transformer replacing the entire output stage is a big sonic improvement. The output of the secondaries can be considered balanced insofar as the (-) signal is lifted from ground. But I'm not sure I'd called what the transformer does "true-balanced", in that it does not invert signal so as to provide CMMR.
There are some quiddities with pseudo-balanced designs that compromise rather than take the "full-balanced" approach. For example, like Bob I also use transformers in my CDP (Sony SCD-1) to create a balanced signal. The stock SCD-1 is a strange beast-- particularly for a statement product-- insofar as it has fully differentially balanced DAC, but converts to single-ended in the analog gain stage, and back again to balanced using an op-amp based module at the XLR output. This is doubtless a compromise to cut costs in the analog stage, while adding additional electronics that degrade sonics. A passive step-up transformer replacing the entire output stage is a big sonic improvement. The output of the secondaries can be considered balanced insofar as the (-) signal is lifted from ground. But I'm not sure I'd called what the transformer does "true-balanced", in that it does not invert signal so as to provide CMMR.