The audio tribe is converging once again in Las Vegas for one of its its three annual gatherings (the others being CEDIA-Expo and the Home Entertainment Show, of course), and so far so good. Although the show officially opens Tuesday this year, several of the major manufacturers took advantage of the calm before the storm to hold their press conferences on Monday.

What initially took form in college dorm rooms and computer geeks' homes only a few short years back looks ready to break into the mainstream audio market this year. Hard-disk&ndash;based audio systems are becoming more common as both consumer electronics and computer manufacturers rush to <A HREF="http://www.stereophile.com/news/11185/">bring products</A> to market.

Slow beginnings are sometimes the most successful. Months after its <A HREF="http://www.stereophile.com/news/11033/">acquisition</A&gt; by Chicago-based <A HREF="http://www.amusicdirect.com">Music Direct</A>, legendary audiophile record label Mobile Fidelity Sound Lab plans to release Super Audio Compact Discs this winter.

Martin Colloms reviewed the <A HREF="http://www.stereophile.com//loudspeakerreviews/487/">Sonus Faber Guarneri Homage loudspeaker</A> back in 1994, finding that "Sonus Faber provides a fascinating and challenging insight into the art of high-quality sound reproduction." But does the diminutive Guarneri breathe real music? Colloms reports.

A year-end report by Nielsen <A HREF="http://www.soundscan.com">SoundScan</A&gt;, which tracks retail activity, states that compact disc sales through December 22, 2002, were off 9.3% compared to the same period the previous year, with 624.2 million units sold compared to 688.2 sold in 2001. Of all recorded music sold, 94% of it was on CD, the remainder on cassette tape and vinyl records. An insignificant amount of music was sold as legitimate downloads from industry-sponsored music sites. SoundScan did not expect the last week of December to impact the year's total.

The slippery slope established by the Telecommunications Act of 1996 could soon get much slipperier. Three major media conglomerates have teamed up to pressure the Federal Communications Commission to drop the remaining restrictions on the ownership of broadcasting stations.

NAD has been out there on the leading edge of entry-level high-end sound long enough that some audiophiles reckon they <I>invented</I> the category. Sure, we should give serious props to the likes of Creek, Rotel, Musical Fidelity, Arcam, Denon, and Parasound, all of which have made significant contributions to the musical aspirations of budget-conscious pilgrims. But I continue to harbor warm feelings about my last extended visit with an NAD component: the inexpensive yet supremely musical L40 CD Receiver, which I reviewed in the June 2000 <I>Stereophile</I>.

NAD has been out there on the leading edge of entry-level high-end sound long enough that some audiophiles reckon they <I>invented</I> the category. Sure, we should give serious props to the likes of Creek, Rotel, Musical Fidelity, Arcam, Denon, and Parasound, all of which have made significant contributions to the musical aspirations of budget-conscious pilgrims. But I continue to harbor warm feelings about my last extended visit with an NAD component: the inexpensive yet supremely musical L40 CD Receiver, which I reviewed in the June 2000 <I>Stereophile</I>.

NAD has been out there on the leading edge of entry-level high-end sound long enough that some audiophiles reckon they <I>invented</I> the category. Sure, we should give serious props to the likes of Creek, Rotel, Musical Fidelity, Arcam, Denon, and Parasound, all of which have made significant contributions to the musical aspirations of budget-conscious pilgrims. But I continue to harbor warm feelings about my last extended visit with an NAD component: the inexpensive yet supremely musical L40 CD Receiver, which I reviewed in the June 2000 <I>Stereophile</I>.

NAD has been out there on the leading edge of entry-level high-end sound long enough that some audiophiles reckon they <I>invented</I> the category. Sure, we should give serious props to the likes of Creek, Rotel, Musical Fidelity, Arcam, Denon, and Parasound, all of which have made significant contributions to the musical aspirations of budget-conscious pilgrims. But I continue to harbor warm feelings about my last extended visit with an NAD component: the inexpensive yet supremely musical L40 CD Receiver, which I reviewed in the June 2000 <I>Stereophile</I>.