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"Dear audio enthusiast." Those were the user manual's introductory words, not "Dear audiophile." I stared at them for a few seconds, letting the implication of that greeting sink in. I don't know if it was meant this way—perhaps not—but for me, this was a whistle call announcing that the KLH Model Three ($1799.98/pair) was not intended for those obsessed with having the best at all costs; it was meant for people who dig quality sound, period. It was also meant for people who dig that vintage-American-speaker look.

It's a not untypical tale. Two veteran engineers, Jason Stoddard, who had extensive experience in product design, development, manufacturing, and marketing, and Mike Moffat, who had an impressive track record designing hi-fi products (footnote 2), got together in June 2010 to start an audio company. What wasn't typical was the new company's brand name: Schiit Audio. What also wasn't typical was the company's business strategy.

What do New York's Lincoln Center and the typical Stereophile reader have in common? Both have recently made large investments to achieve sonic excellence.

I doubt that very many Stereophile readers have spent as much as Lincoln Center did on the renovation of Geffen Hall: $550 million. But then few audiophiles' systems are supported by the likes of David Geffen, a $100 million contributor to the Geffen Hall project, or Joseph and Clara Wu Tsai, who gave $50 million.