When I purchased my Theta Miles (bal. version) I auditioned it along with the Arcam FMJ, a Linn (forget the model but it retailed for around $3000)and the new ARC CD3. To my ears the ARC sounded best, it had a more refined presentation with good weight and detail, but it cost $2000 more than the other units. The Linn was had no weight, body, or depth to it's presentation; It almost sounded like a transistor radio compared to the others. The Arcam sounded O.K. but still didn't have the demensionality, and color of the ARC or the Theta. The Theta was right behind the ARC in almost every regard, it has the weight, slam, soundstaging, and timbral accuracy ,but lacks a little of the ARC's refinement(mostly on top). In the end I wanted the ARC, of course, but the Theta bought as a dealer demo was $1,700 compered to $5000 for the ARC (and the differences were not that big). I have heard the balanced version is a much better sounding player than the unbalanced version(you have to run it bal. too). Another cool thing about the Miles is you can run it straight into your power amp, thus negating the need for a pre.