I had the LS25Mk11 and was looking to upgrade, I auditioned the Ref 11 Mk11 and heard subtle differences in my system. The Ref 11 Mk 11 was more detailed but like Rlips found it somewhat noisier than the LS25 Mk11. I was looking at new equipment so the cost difference between the two was significant. I decided that while the Ref 11 Mk11 was an improvemnet it just wasn't worth the price difference. I ended up selling the LS25 Mk11 and purchased a Conrad Johnson 16LS Series 11 and haven't looked back.
