I heard this players at Celestial Audio and Video in Phoenix, Arizona yesterday. I auditioned it against an ARCAM FMJ CD33 and a $9k CDP made by YPA (a French company I'd never heard of.) The 303/300 BLEW AWAY the other two players.
All three were run through a Pass Labs pre and amp with identical IC's. The speakers were Celestial Altair speakers (check them out: http://www.celestialav.com/altair.html) I used my own source material, which was Chuck Mangione's Millenium Collection remaster, primarily comparing "The Children of Sanchez (Overture)" and "Hill Where the Lord Hides."
I liked the ARCAM - it sounds very up-front on vocals and lead instruments. I was floored at how brilliant trumpets sound with the ARCAM. I had a hard time hearing the mid-bass and bass region, however, leading me to conclude the ARCAM is a bit bright. I also could not hear much resolution on the quick bass guitar lines in "Sanchez." I'm not sure if the bass resolution was really somewhat poor or if I just couldn't hear it well enough due to how up-front the lead and treble was, though. The soundstage seemed somewhat collapsed to me, and certain images moved around inexplicably - the drums on "Sanchez" seemed to move out to the sides of the soundstage during the solos, for example. The imaging for the lead instrument was always focused and centered, however. For those that like an in-your-face, the ARCAM is for you!
I liked the ARCAM, but the Cary was just phenomenal. I listened to it for an hour, replaying various parts of the source material in each upsampling mode and through both the tube and SS output stages, and found joy in the 24/96 and 24/192 SS settings. The treble and vocals are much more laid back with the Cary than the ARCAM. The overall sound was much warmer with the Cary in all upsampling modes. The bass resolution was fantastic - I could listen to the bass guitar and hear every note, regardless of how quick the notes, with no problem. The Cary was dynamic, and the soundstage was HUUUUUGE. I read some comments on the 303/200 (which I haven't heard yet, but will in a couple weeks) that the soundstage for that player was "exaggerated", and this may be the case with the 303/300 as well, considering the incredible difference between the soundstage of the 303/300 and the ARCAM. Not only was the soundstage wider than the speakers, it extended all the way back to the wall, which was about 8 feet behind the speakers. I'm not sure how accurate the imaging was - the trumpets on "Sanchez" seemed to be in an arc centered behind the singer/soloist, whereas the trumpets are on the right with every other source I've heard. Same with the trombones - they sounded like they were sitting right in front of the trumpets, rather than being on the left. Imaging was pinpoint.
But here's the most important thing I can say about the Cary: I wasn't listening to a recording of Chuck Mangione. When I closed my eyes, the whole damn band was right there in front of me! I'm certain if I disoriented someone, blindfolded them and took them in the room they would've thought they were listening to live music. It was amazing.
I've read alot of stuff from alot of sources on CD's, since I'm looking to upgrade my mid-fi CDP later this year. I've heard several CDP's up to the $10k range (not the Wadia 861se yet, though), and I can say that this $4k Cary 303/300 was BY FAR my preference.
I'll repost to this thread at the end of the month after I get to listen to the Ayre CD-7 and Wadia 861se in San Diego.
But for now, my money is on the 303/300. It's so good I'll actually do something I swore I'd never do: buy new!