Every time I get in the gear lust phase and start auditioning amps, McIntosh is always at the top of my list. I have never owned one but have several friends who have McIntosh. I have also auditioned several models (mostly integrated -- MA-5300, MA-8900, MA352, and a few others) in the last 3-4 years. I really liked the sound each time I listened to them, but in almost every case I was able to find something that I preferred for the same or lower cost. Two years ago, I almost bought an MA-8900 but after listening to Luxman 590-AXII, I preferred the Luxman sound by quite a substantial margin.
What I've come to realize is that when you consider the value proposition of a McIntosh amp you have to consider all the relevant aspects holistically: Sound quality + pedigree + reliability + resale value + eye candy appeal. The current prices for both new and used equipment is reflective of the value prop I mentioned. For many people, pedigree and looks might not be a big factor so they balk at the seemingly high prices compared to what you could get for similar or less money.
Having said that, McIntosh's longevity and sales numbers suggest that many people appreciate the full package the company offers. But overall I agree that if you remove the pedigree and resale value aspects from the equation, their amps are not any better or worse than anything else in the same price bracket.
