Hi,
I've had the EAR 868 for over a year and compared it to the AR Ref 3 and some other top flight preamps. The EAR smoked the Audio Research Ref 3 and an expensive VTL.
The EAR is a great pre but I still felt it could be a little soft and rolled in the top frequencies. I had it modified it by the Upgrade Company and it pushed it to new heights: blacker background, tighter bass, more detail, more extension in the top end. It sounds more like top notch solid state but it retained the tube warmth.
A world class preamp indeed!
Let me know if you have any other questions.
Zoltan