Audio Research's first 21st-century, audiophile-quality line-stage preamplifier combines retro-tech vacuum-tube amplification and power-supply circuitry with innovative, remote-controlled gain, balance, tape monitoring, and signal routing. The price is also 21st-century: $9995. As in ARC's Reference phono section, the Reference Two's pair of vertically mounted circuit boards results in a single, relatively tall chassis.

Audio Research's first 21st-century, audiophile-quality line-stage preamplifier combines retro-tech vacuum-tube amplification and power-supply circuitry with innovative, remote-controlled gain, balance, tape monitoring, and signal routing. The price is also 21st-century: $9995. As in ARC's Reference phono section, the Reference Two's pair of vertically mounted circuit boards results in a single, relatively tall chassis.

Audio Research's first 21st-century, audiophile-quality line-stage preamplifier combines retro-tech vacuum-tube amplification and power-supply circuitry with innovative, remote-controlled gain, balance, tape monitoring, and signal routing. The price is also 21st-century: $9995. As in ARC's Reference phono section, the Reference Two's pair of vertically mounted circuit boards results in a single, relatively tall chassis.

Audio Research's first 21st-century, audiophile-quality line-stage preamplifier combines retro-tech vacuum-tube amplification and power-supply circuitry with innovative, remote-controlled gain, balance, tape monitoring, and signal routing. The price is also 21st-century: $9995. As in ARC's Reference phono section, the Reference Two's pair of vertically mounted circuit boards results in a single, relatively tall chassis.

Audio Research's first 21st-century, audiophile-quality line-stage preamplifier combines retro-tech vacuum-tube amplification and power-supply circuitry with innovative, remote-controlled gain, balance, tape monitoring, and signal routing. The price is also 21st-century: $9995. As in ARC's Reference phono section, the Reference Two's pair of vertically mounted circuit boards results in a single, relatively tall chassis.

Audio Research's first 21st-century, audiophile-quality line-stage preamplifier combines retro-tech vacuum-tube amplification and power-supply circuitry with innovative, remote-controlled gain, balance, tape monitoring, and signal routing. The price is also 21st-century: $9995. As in ARC's Reference phono section, the Reference Two's pair of vertically mounted circuit boards results in a single, relatively tall chassis.

Venture capital group Shared Ventures is now the legal owner of the assets of <A HREF="http://www.wadia.com/">Wadia Digital Corporation</A>. Wadia's majority shareholder, Shared Ventures, acquired the company's name, intellectual property, and physical inventory at a public auction in Minneapolis on September 12. The law firm of Siegel, Brill, Greupner, Duffy, and Foster, P/A, of Minneapolis, managed the auction. Originally scheduled for late August, the auction was postponed for two weeks after a flurry of interest following the publication of an official notice in the <A HREF="http://www.startribune.com/"><I>Minneapolis Star-Tribune</I></A>.

With new audio formats such as SACD and DVD-Audio hitting the market, audiophiles will soon have more choices than ever for playing back music. But along with all of these options comes the hard part: choosing which path to take and hoping not to be dead-ended, as Beta video owners were years back. For consumers, the promised universal audio players (expected to play DVD-Video, DVD-Audio, CD, and SACD) will reduce the risk significantly.

E<I>ditor's Note: This is Part Four of a six-part series from reader Herv&#233; Del&#233;traz of Switzerland, who is chronicling the development of his DIY (do-it-yourself) audio amplifier. Part One is <A HREF="http://www.stereophile.com/news/10825/">here</A&gt;, Part Two is <A HREF="http://www.stereophile.com/news/10832/">here</A&gt;, and Part Three is <A HREF="http://www.stereophile.com/news/10839/">here</A>.</I&gt;