Pass Labs XP-20 or Audio Research Ref 3?

It's easy to be a big fan of both. I have owned the XP-20 and now the ARC Ref Anniversary which likely has a family resemblence to the Ref 3. Both are great preamps but are very, very different sounding. The XP-20's strongest points are an incredibly low noise floor that allows you to hear all the details from the recording. It also has outstanding bass. ARC has great soundstaging, tonal color, and an organic textural quality that are typical of tubes. What you will prefer depends on what kind of music you listen to and the type of sound you are looking for.

Nothing wrong with the highs in the XP-20 - a little more emphasis on leading edge than the ARC. I don't mean to suggest the pre-amp is bright or siblant. You already know it isn't if you own it. As typical with tubes, ARC highs have a little more airiness, and sweetness. This may be great for female vocals, less so for hard rock guitar solos. It would be best if you could listen yourself and compare.