Meridian 500 or Squeezebox 3

+1 on the Bolder modifications.. I run full digital mod's plus the Bolder Ultimate Powersupply.

Ethifi: I can't compare it to my Theta Compli as I run it as a transport only since I don't have a typical preamp. Plus my SB3 is running through a crappy digital cable until I can come up with the money for another Transparent Digital. I have ~2k in my SB3 and it's pretty close but I need a powercable on the Bolder powersupply and I need my 2 dedicated outlets back (which haven't been installed in under my projector screen yet until I figure out whether this is the resting place for my system). I am still amazed by the SB3 when playing Flac files ripped using plextor tools. I also need a wired ethernet to this location as right now I'm using my unmodded SB2 wirelessly which degrades the quality quite a bit.

Even so it's probably 80-85% so I'm pretty happy... Room acoustics are my main problem..... If I had to do it again I would just buy the SB2/3 and have them modified... it's that good and even more accessible to my music!!!

I'm not knocking the Meridian 500 transport, but another thing to keep in mind is that I don't believe you can get replacement parts for that transport so it could be a paperweight. There is good synergy between Meridian components but if you look at all the big meridian forums they us Squeezeboxes feeding their DSP8000, DSP7000 speakers for the most part. I own a Meridian 568.2 and personally don't find it very musical compared to my old EAD Signature for music. My friends 508.24 CD player is a very nice unit, but even my Compli sounds more natural and refined. If you don't have a modified powersupply on the SB3's then you are missing a lot! This is a manditory upgrade in my opinion if you have full range speakers.

You might even consider getting the analog section of the SB3 modified by Bolder Audio and run it as a preamp/DAC if that is your only source.. that is suppose to be amazing plus you save $$$ on interconnects, power cords, etc..

Any way you cut it you will listen to more music with the Squeezebox than with anything else.....